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CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND TO THE STUDY

Taxation is considered a veritable source of revenue for financing developmental as well as people oriented programs in virtually all countries, irrespective of whether they are classified as developed or developing economies. History has however shown that individuals often exhibit one form of tax reduction behavior or the other, with series of arguments on the legal, economic and moral consequences of these acts.

Tax evasion and tax avoidance reduce government revenues. This has a significant detrimental effect on the provision of infrastructures, public services and public utilities. Multinational companies (MNCs) in the oil, gas, and manufacturing sectors have used various tax schemes, ranging from off-shore intermediary companies to claiming recharges, royalties or technical fees and under-reporting of profit, to avoid paying tax in Nigeria.

Stimulated majorly by increased profitability, and intense competition and pressure to increase earnings, capitalist enterprises constantly seek new ways of boosting their earnings by developing complex structures and novel ways of increasing their profits by exploiting ambiguities in the law. The evidence shows that tax havens and offshore financial centres, shaped by globalisation, are major structures facilitating the anti-social tax practices of MNCs.

Tax evasion is an unlawful practice which has the effect of reducing the government revenues needed for the provision of infrastructures, and for public services and public utilities. Tax avoidance, while not regarded by some as being unlawful,has the same effect. Both practices are motivated by different factors and involve a wide range of different mechanisms (Mo, 2003). They are amajor feature of national and international fiscal policy and of the global capitalist economy.

These tax practices are not the prerogative of developed economies, but are also encountered in developing countries; and huge sums of money are lost to government coffers by such practices, Unlike tax evasion, tax avoidance is considered by some scholars to be a lawful activity. However, despite disagreement about whether tax avoidance is an unlawful activity, both practices have negative consequences and effects (Cobham, 2005; Kirchler et al., 2003) and have, similar impacts on fiscal revenues, Through tax havens and offshore financial centres it has been estimated that $1 trillion a year of ‘dirty’ money flows into the global banking system, one half of which comes from developing countries and transition economies.

Although public opinion perceives that localised corruption in developing countries is the key cause of global poverty, sixty tax havens and the banking sectors of London and New York have much more to account for. While the World Bank estimates that corruption by government officials costs developing countries a significant US$30 billion a year – this is only 3% of the US$900 billion of public funds lost through tax evasion schemes and other illicit practices by multinational companies.

Financial crimes such as tax evasion carried out by individuals and their Multinational companies, politically-exposed foreign elites’ collaborators are made possible and continue to be sustained by the unethical practices by the professionals, particularly accountants and auditors (local and foreign) (see the case of Osakwe, 2002). Despite the various statutory provisions, the tax legislations and policies, companies’ and professional bodies’ Acts in place in Nigeria, it is the members of the veteran Institute of Chartered Accountants of Nigeria (ICAN), in particular, who connived with Multinational companies and other foreign capitalists in siphoning the collective wealth of Nigeria into their foreign private accounts, and other their foreign collaborators (Dafinone, 2005; Aloba, 2002).

Despite the evidence, the consequent poverty all over Nigeria and the continued reluctance of these MNCs to cooperate with the regulators in Nigeria, little have been done by the authorities in the developed home countries of the MNCs and other foreign capitalist, to curb the act of tax evasion and avoidance and other trans-organised financial crimes atrocities being constantly perpetrated or sometimes collaborated by these multinational companies and some other foreign capitalist elite operating in Nigeria.

The relationship between tax evasion/avoidance and the multinational companies in developing countries can be situated in a contradictory role of capital accumulation ambition for the multinational companies and defence of capitalism for the developed capitalist countries (see Hoogvelt and Tinker, 1978). It is the above capitalistic ambition of the Western economic powers, their multinational corporations (MNCs) and other foreign capitalists of reproducing capitalist relations at home that brought about the contradictory alignment between the corrupt local ruling elite in developing countries and the “good governance”, “accountability” and “transparency”-preaching Western capitalist world. Thus, the corrupt activities of multinational companies and their accountants and the professional bodies, particularly accountants have got devastating effects on the socio-economic, political and cultural development of most developing countries.

1.2 STATEMENT OF THE PROBLEM

Tax evasion and tax avoidance are considered by most governments to be serious threats to the integrity of tax systems in a democratic society. According to Spicer (1975), tax evasion and tax avoidance result in a loss of tax revenues, impair the chances of realizing the distributional or equity goal of taxation, and, if they become widespread, as they have in recent times, then more taxpayers may lose faith in the tax administration system and may be tempted to join the ranks of tax evaders.

While Companies and wealthy individuals use a range of tax evasion and tax avoidance schemes, tax havens, shell companiesand inter-group structures to avoid and evade taxes in order to boost profits and capital , These schemes result in a loss of tax revenues which undermines government legitimacy and prevents economic and social development. However, corporations regard tax avoidance schemes as justifiable and legitimate cost reduction programmes and not as practices which undermine social solidarity and the development of a just and fair society (Sikka, 2008a). In the last few years or so, the effects of such tax schemes on the world’s poor have been considered by various bodies, including charitiesand Tax Justice Network 2007); and there have been calls for reform to prohibit Multinational companies and the wealthy from using such schemes.

Despite the emphasis on the importance of taxation and the efforts made at improving its efficiency, citizens’ aversion to taxes have remained a problem that most tax authorities have to grapple with. This is because individuals will always look for a means –legal or otherwise–to reduce or even completely avoid paying taxes. This result in heavy revenue losses to governments and ultimately affects their ability to meet their obligations. This phenomenon is acclaimed to be a global one, but it is generally acknowledged to be higher among the less developed/developing countries of the world. In the United States of America for example, the IRS reported that the total amount of federal taxes that were either not paid voluntarily or on time were estimated at between $312bn and $353bn in the year 2002 (Alabede, Ariffin and Idris, 2012). While Cobham (2005) estimates that developing countries lose USD 285 billion per year due to tax evasion in the domestic shadow economy. It is also reported that half of sub-Saharan African countries mobilize less than 17% of their GDP in tax revenues, which is below the 20% minimum level considered by the UN as necessary to achieve the MDGs (Supporting the development, 2010). These facts underscore the extent of losses suffered by nations when individuals do not pay their taxes, and thus justify the attention the subject of tax compliance has generated over the years.

While accountants and tax professionals are not expected to condone tax evasion by their clients, and are expected to promote transparency and accountability and devise techniques for detecting tax fraud, it has been shown that Some professionals do, in fact, use their expertise to facilitate both tax avoidance and tax evasion practices (Bakre, 2007; Ezeoha and Ogamba, 2010; Sikka ) Accounting technologies, such as transfer pricing and the use of intangible assets, also make it easier for Multinational companies to hide and shift capital (see Baker, 2005; Otusanya, 2010).

Thus some professionals use accounting technologies and structures to make financial gains for their clients and themselves to the detriment of the public interest which they claim to be protecting (Bakre, 2007. It has been shown that tax revenues cannot be evaded or avoided without the involvement of accountants, lawyers and bankers (Ezeoha and Ogamba, 2010; Sikka, 2008a; US Senate Sub-Committee on Investigations, 2005; US Sub-Committee on Investigations, 2003, 2008). Furthermore, Offshore tax havens which provide secrecy and low regulation, are key vehicles for the movement of ‘hot’ money (Christian Aid, 2005; Killian, 2006; Palan, 2002, 2003;Tax Justice Network, 2006).

1.3 OBJECTIVES OF THE STUDY

The main objective of the study is to determine the major roles of multinational companies in tax evasion and tax avoidance in Nigeria. Other specific objectives include:

i. To establish the key actors key actors and facilitators of anti-social tax practices in Nigeria.

ii. To identify the problems created by MNCs and their affiliates operating in Nigeria through tax evasion and tax avoidance.

iii. Ascertain the effect of tax evasion/avoidance on Nigerian income generation.

iv. Determine the roles of professionals such as accountant in anti-social tax practices in Nigeria.

v. Suggest possible recommendation and solution for reducing tax evasion/avoidance in Nigeria.

1.4 RESEARCH QUESTIONS

The research question provides a framework and guidelines through which substantial knowledge of the research study can be understood. The research questions includes:

i. Who are the key actors key actors and facilitators of anti-social tax practices in Nigeria?

ii. What are the problems created by Multinational companies and their affiliates operating in Nigeria through tax evasion and tax avoidance?

iii. Are there any effects of tax evasion/avoidance on Nigerian income generation?

iv. Are professionals such as accountant involves in anti-social tax practices in Nigeria?

v. What are the possible recommendation and solution for reducing tax evasion/avoidance in Nigeria?

1.5 SIGNIFICANCE OF STUDY

“As the world economy sputters along in the wake of the global financial crisis, the illicit underworld is thriving - siphoning more and more money from developing countries each year. Anonymous shell companies, tax haven secrecy, and trade-based money laundering techniques drained nearly a trillion dollars from the world’s poorest in 2011, at a time when rich and poor nations alike are struggling to spur economic growth. While global momentum has been building over the past year to curtail this problem, more must be done.

This study should serve as a wake-up call to world leaders, foreign elites, government, management of foreign companies, politicians, tax officials, and tax authority, it will provide a positive insight on the roles and method through which multinational companies carried out illicit financial activity in order to increase profitability. This research study, would contribute to the existing literature by focusing on tax reforms and administration of tax policy/laws in Nigeria with a view to identifying the critical problems that are confronting the tax system so that appropriate measures could be taken to tackle them.

This study shall set out, a comprehensive analysis of financial crime (tax evasion/avoidance) perpetrated by multinational companies and it will also consider the ‘dark’ side of professional practice by examining the involvement of professional accountants in facilitating tax avoidance, tax evasion and corruption in Nigeria.

This study shall reviews related literature on the subject matter with tax compliance with particular attention on the dimensions of evasion and avoidance as forms of non-compliance. Attention is also paid to the discussions and arguments relating to the distinction between the two concepts as they affect tax revenue. Finally this study will be of great significance to schools and students, it will serve as a reference point for future researchers who will want to research more on the topic.

1.6. STATEMENT OF HYPOTHESES

Hypothesis One

Hi: There’s no significant relationship between tax avoidance, tax evasion and company income generation in Nigeria

Hypothesis Two

Hi: There is no significant relationship between the tax rates and tax avoidance and tax evasion.

1.7. SCOPE OF THE STUDY

From the foregoing discussion, the research focuses on roles of multinational companies in tax evasion and tax avoidance in Nigeria, using the staffs federal Inland Revenue Service.

1.8. LIMITATION OF THE STUDY

Financial challenges:this factors serves as a deficiency for the research work, and as a result of low financial capability, it was not enough to give us desired results.

Inadequate source of data: the researcher was faced with inability to generate enough required materials, and relevant data for the research work.

Time constraint: this pose a great challenges to the research work, due to the time frame given.

1.9. DEFINITION OF TERMS

Taxation: Is defined by Ogundele (1999) as the process or machinery by which individuals, groups, or communities are made to contribute in some agreed quantum and method for the purposes of the administration and general development of the society they belong.

Tax evasion: Refers to any intentional, illegal reduction of tax payments, which usually takes the form of underreporting income, sales or wealth, or overstating deductions (Schneider, Braithwaite & Reinhart 2001), including failure to file appropriate tax returns.

Tax Avoidance: Refers to the reduction in tax burden by means of practices that take full advantage of the tax code or exploiting the loopholes in the tax laws to reduce tax liabilities by arranging ones tax affairs using tax shelters in the tax law, and avoiding the tax traps in the tax laws.

Anti-social practices Involve behaviour which confers improper benefits contrary to the legal and moral norms of society and which undermine the capacity of the authorities to secure the welfare of all citizens.

Offshore tax havens are regions which are relatively small geographically, and which offer shelter to international capital through bank secrecy, confidentiality, little (or no) regulation, and low (or no) tax (Palan, 2003).

Non-Compliance: can be defined as the failure on the part of a taxpayer to correctly file returns, report actual income, claim the correct deductions, reliefs and rebates and remit the actual amount of tax payable to the authority on time.

Accountant: An accountant is any person who possesses a professional license to practice accountancy from a recognized professional body and has legal capacity and authority to carryout the duties of accountants in taxation and audit practice.

Tax: Is a compulsory levy payable by individual economic units or corporate bodies to government without any direct quid pro quo from the government.

Multinational Companies: These are companies owned by foreign investors or individual operating outside their country of origin.i.e. financial operation are carried out in a developing countries.


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CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF STUDY

The public sector of Nigeria is one of the major contributors to the growth and development in Nigeria; although there have been so many reforms and policies since 1952; most of the public sectors in Nigeria did not survive the experiences from such reforms and policies. The economics and financial status of most countries especially the developing nations depends on the level of stability in the public sectors; that’s to say that the performance of the public sector has a significant effect on the economy of the nation. Before the introduction of treasury single account in Nigeria, MDA which normally generates revenue have numerous accounts in commercial banks, they use part of the revenue generated to fund their various and operations and remit the excess to the federation of account.

Most of these agencies pay whatever they deem fit the federal government account; it is evident that most of these agencies or ministries are even richer than the government. The outcome of the above occurrences leads to financial leakages, the embezzlement of public funds; this made the federal government of Nigeria to prepare budget using false projection.

The above situation was what led to the introduction of the government treasury single account; on the 25th February, 2015, the president of Nigeria instructed that all the ministries should close their account with all the commercial banks in Nigeria, and transfer the various balances into federation account with the central bank of Nigeria. The implementation of government treasury single account has affected the performance of the public sectors in Nigeria; the effect is noticed in the area of employment. The adoption of the TSA is in the greater interest of the states, as it will pave the way for the timely payment and capturing of all government revenue in a single government treasury account, without the intermediation of multiple banking arrangements as had been the case. Moreover, embracing the scheme can help reduce the mismanagement of public funds by revenue-generating agencies, as well as check excess inflation, high interest rates and round-tripping of the government deposits. It is to this regards that the study wishes to audit the treasury single account in Nigeria, run a comparative analysis on the performance of the public sector before and after the implementation of treasury single account in Nigeria.

1.2 STATEMENT OF THE PROBLEM

The implementation of TSA has gone a long way to monitor and check financial leakages even with the overall achievements; TSA provides a number of other problems and despite the fact that, it enhances the overall effectiveness of a financial management system. The establishment of a TSA should, therefore, receive priority in any Government reform agenda. According to the directive, this measure is specifically to promote transparency and facilitate compliance with sections 80 and 162 of the 1999 Constitution. In a statement by Laolu Akande (2015), former Senior Special Assistant to the Vice President on Media and Publicity, all receipts due to the Federal Government or any of its agencies must be paid into TSA or designated accounts maintained and operated in the Central Bank of Nigeria (CBN), except otherwise expressly approved. The presidential directive, in the view of analysts, would end the previous public accounting situation of several fragmented accounts for government revenues, incomes and receipts, which in the recent past has meant the loss or leakages of legitimate income meant for the federation account. President Buhari had earlier promised state governors at the inaugural meeting of the National Economic Council (NEC), in June, that all revenues prescribed for lodgment into the federation account will be treated as such under his watch and that he will ensure strict compliance with all relevant laws on accounting, allocation and disbursement. Since then the presidency has worked with relevant agencies of the federal government to evolve this policy directive. This directive applies to fully funded organs of government like the Ministries, Department. All the aims of treasury single account were achieved but the banking sector of Nigeria did not benefit from the achievement; the implementation of treasury single account has reduced money flow in most banks; the poor circulation of money has also affected the masses as most commercial banks were no long buoyant to give out loans to their customers. There is need for an effective audit of the treasury single account in Nigeria.

1.3 AIMS AND OBJECTIVES OF STUDY

The main aim of the research work is to effectively audit the treasury single account in Nigeria; other specific aims of the research work are stated below as follows:

i. To examine appropriate Controls and Risk Management Procedures for Treasury Single Account Process.

ii. To arrive at effective Management of Treasury Single Account Idle Cash Balances.

iii. To examine the effect of treasury Single Account Policy on Public Sector of Nigerian Economy.

iv. To examine the role of the utilization of treasury Single Account Funds in stimulating the economy through viable institutional avenues and investment.

v. To investigate on the challenges and issues of Treasury Single Account.

1.4 RESEARCH QUESTIONS

The study came up the following research question so as to ascertain the objectives. The research questions were stated as follows:

i. What are the appropriate Controls and Risk Management Procedures for Treasury Single Account Process?

ii. What is the effect of effective Management of Treasury Single Account on Idle Cash Balances?

iii. What is the effect of treasury Single Account Policy on Public Sector of Nigerian Economy?

iv. What are the roles of the utilization of treasury Single Account Funds in stimulating the economy through viable institutional avenues and investment?

v. What are the challenges and issues of Treasury Single Account?

1.5 STATEMENT OF RESEARCH HYPOTHESIS

Hypothesis 1

Ho: Petroleum profit tax and custom export duties does not influence oil revenue since the implementation of TSA

Hi: Petroleum profit tax and custom export duties does not influence oil revenue since the implementation of TSA

Hypothesis 2

Ho: Direct tax, indirect tax and company income tax does not have any significant effect on the non-oil revenue

Hi: Direct tax, indirect tax and company income tax does not have any significant effect on the non-oil revenue

Hypothesis 3

Ho: There is no difference in the oil revenue generated before and after the implementation of treasury single account

Hi: There is difference in the oil revenue generated before and after the implementation of treasury single account

1.6 SIGNIFICANCE OF STUDY

The study the audit of treasury single account will be of immense benefit to the federal government of Nigeria, the auditors, the ministries and other government agencies in Nigeria as it will reveal the benefits of the implementation of treasury single account in Nigeria, the study will also be of great benefit to the citizens of Nigeria as it will reveal the effect effective Management of Treasury Single Account Idle Cash Balances; the study will discuss the role of the utilization of treasury Single Account Funds in stimulating the economy through viable institutional avenues and investment, it will also reveal the effect of treasury Single Account Policy on Public Sector of Nigerian Economy. At the end of the research work, the federal government, the state government of Nigeria will be able to compare the performance of public financial management before and after the implementation of treasury single account in Nigeria.

1.7 SCOPE OF STUDY

The study the audit of treasury single account will compare the performance of the public sector before and after the implementation of treasury single account.

1.8 DEFINITION OF TERMS

Treasury Single Account (TSA): Treasury single account is a financial policy introduced by the federal government of Nigeria in 2012 to consolidate all inflows from the country's ministries, departments and agencies (MDAs) by way of deposit into commercial banks, traceable into a single account at the Central Bank of Nigeria.

Transparency: Is a positive and clear financial statement of Nigeria

Financial Leakages: Refers to outflow from a circular flow of income model. In a two sectors model, all individual income is sent back to employers when goods and services are purchased, and back to employees through wages and dividends. Leakage occurs when income is taken out through taxes, savings and imports.

Public Finance: Is the study of the role of the government in the economy. It is the branch of economics which assesses the government revenue and government expenditure of the public authorities and the adjustment of one or the other to achieve desirable effects and avoid undesirable ones.


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ABSTRACT

Taxation and its product, Tax have been very important vehicles for economic policies of many countries of the world. For a very long time, tax has been a major source of revenue for various levels of governments. For instance, in Nigeria, the laws of the land stipulate the categories of taxes that are collect-able by each of the three tiers of government. This is with a view to enhancing basic economic growth and development at all levels of government. However, the manner in which taxes are administered on corporations in Nigeria is a major concern to the majority of Nigerians. Traditional schools of thought advocated the theory of low income tax rates’ influencing economic development, whereas modern schools of thought propagated the theory of higher income tax rates producing greater economic growth, especially for developed nations. In order to justify these thoughts, an attempt was made taking Nigeria as a case study to pin point the effect of low and high income tax rates on economic growth of developing nations. Secondary data sources were utilized in this study. In this study various parameters were taken into account including income tax rates, income tax revenue, total revenue and GDP of the country in the nominal and real value of the money. It was located that high income tax rates negatively affect the economic growth of Nigeria. The study found that government’s policies on income tax affect the revenue of corporations in the country. It was concluded that tax regulation is very relevant in order for government to be able to act justly on the various sectors of the economy.



CHAPTER ONE

INTRODUCTION

1.1 Background of the study

According to Black Law Dictionary, tax is a rate able portion of the produce of the property and labor of the individual citizens, taken by the nation, in the exercise of its sovereign rights, for the support of government, for the administration of the laws, and as the means for continuing in operation the various legitimate functions of the state. The Institute of Chartered Accountants of Nigeria (2006) and the Chartered Institute of Taxation of Nigeria (2002) view tax as an enforced contribution of money, enacted pursuant to legislative authority. If there is no valid statute by which it is imposed; a charge is not tax. Tax is assessed in accordance with some reasonable rule of apportionment on persons or property within tax jurisdiction. Sanni (2007:5) advocated tax an instrument of social engineering which can be used to stimulate general or special economic growth.

The Company Income Tax among-st countries of the world varies, especially in the developing countries. Gordon and Wei Li (2008) notes that to some extent, these differences may simply reflect differences in social preferences for public vs. private goods. Countries differ substantially, for example, in the amount spent on the military, on infrastructure investments, on publicly provided education, or on social insurance. Higher spending levels require higher revenue, leading to higher tax rates.

To some extent, these differences may also reflect differences in the political support for redistribution. More redistribution naturally requires higher tax rates on the rich in order to finance lower tax rates or transfers to the poor. Governments with a stronger preference for redistribution would rely more on progressive personal income taxes, whereas other governments may choose less progressive personal taxes and make more use of proportional taxes such as a value-added tax or a payroll tax.

Other differences, though, are more puzzling based on conventional models of optimal tax structure. Regardless of a country’s tastes for public vs. private goods or for more or less redistribution, Diamond and Mirrlees [2001] forecast that the optimal tax structure will preserve production efficiency under plausible assumptions. (Coelho, Isaias, and Graham, 2001). This rule out tariffs in any country that lacks market power in international markets. It rules out differential taxes on goods produced domestically in one industry vs. another. Atkinson and Stiglitz (1996) go further and argue that as long as a country can flexibly choose the rate structure under the personal income tax, then it has no reason to choose differential tax rates on the consumption of different goods. Not only does this rule out differential excise tax rates by good but it also rules out taxes on income from savings, which implicitly impose higher tax rates on goods consumed further into the future.

Regarding possible revenue from seignorage, Friedman (1999) argued that a country would optimally choose a deflation rate sufficient to generate a nominal interest rate close to zero, so as to avoid any real costs of liquidity. While these forecasts of no tariffs, no taxes on capital income, uniform taxes on consumption, and deflation, are not consistent with any existing tax structures, they are not sharply inconsistent with observed tax policies among the most developed countries. With GATT and now the WTO, tariffs are indeed very low among developed countries.

At this point, nominal interest rates are very low among most developed countries, even if deflation is rare. While capital income is still subject to tax in various ways, Gordon, Kalambokidis, and Slemrod [2004] report evidence that the U.S. collects little or no net revenue from taxes on capital income, and imposes relatively low distortions on investment and savings. While even the richest countries maintain some important excise taxes, e.g. on gasoline, cigarettes, and liquor, an argument can easily be made that these specific taxes help internalize various consumption externalities.

Tax policies in developing countries are much more puzzling, however, in light of these forecasts from the optimal tax models. These differences are laid out in more detail in section I. The corporate income tax is a much more important source of tax revenue among developing vs. developed countries, as are tariffs and seignorage. Poorer countries collect much less revenue from personal income taxes, yet it seems puzzling that distributional preferences should systematically be so much weaker among poorer countries (Bird, 1999). On net, poorer countries collect on average only two-thirds or less of the amount of tax revenue that richer countries do, as a fraction of GDP. Yet, given the severe needs for investments in say infrastructure and education in these countries, is it plausible that the lack of revenue simply represents differing tastes for public vs. private goods in poor vs. rich countries?

One natural response to these differences between forecaster policies and those observed in developing countries is to conclude that the policies in developing countries should be changed. Newbery and Stern [1987], for example, set out the standard forecasts from optimal tax models as an ideal tax structure that developing countries should emulate. This is also the basis for recommendations, e.g. from the World Bank and IMF, that developing countries should reduce their tariff and inflation rates, and rely more on value-added taxes with a uniform rate across industries, rather than on excise taxes or corporate income taxes (Campillo, Marta and Jeffrey, 1997).

In this study, we explore whether the inconsistency between the forecasts from optimal tax models and the data reflects instead a problem with the models. The starting point for our approach is the observation of greater tax enforcement problems in poorer countries. According to the estimates reported in Schneider and Enste [2002], for example, the informal economy on average is only about 15% of GDP among OECD countries, and thus small enough that it should not be a driving factor in the choice of tax structure. However, among developing countries, the median size of the informal economy they report is 37% of GDP, ranging from 13% in Hong Kong and Singapore to 71% in Thailand and 76% in Nigeria.

With such a large informal sector, any effects of the tax structure or of government policies more generally, on the size of the informal sector can be of first-order importance in the choice of these policies. Yet at this point, we know relatively little about how policies affect the size of the informal sector, or why the informal sector is so much larger in developing than in developed economies (Diamond, Peter and James Mirrlees, 2001). It is in this respect that this present study shall examine the impact of company income tax revenue on developing economies using Nigeria as a reference point.

1.2 Statement of the Problem

Poorer countries have indeed shifted towards more use of the value-added tax in recent years, in part based on the advice and assistance of international organizations. But otherwise the puzzling differences remain. This leaves unanswered why poorer countries so systematically choose the wrong policies, and why these wrong policies have remained so stable over time. Perhaps political economy problems are more severe among developing countries, and some important domestic constituency gains from the policies that standard models find perverse. Yet these puzzling policies are found under many different types of governments, drawing their support from many different constituencies. (Coelho, Isaias, and Harris, 2001).

Perhaps poorer countries lack the best enforcement methods, e.g. based on modern information technology. Certainly computer technology helps pool information from different sources. Bird (1999) argues, however, that the key problem is acquiring reliable information, not processing it. In considering problems associated with income tax of developing economies, problems statements like the following arises:

Does government policy on company income tax affect the revenue of corporations in developing countries?

Of what relevance is tax regulation on the development of companies’ in developing economies?

Does effective income tax helps in the building strong economies?

1.3 Objectives of the study

The main purpose of this study is to:

i. To examine whether government’s policies on income tax affect the revenue of corporations.

ii. To examine the relevance of tax regulation on the development of companies’ in developing economies and

iii. To ascertain the impact of the company income tax revenue on the development of the Nigeria economy.

1.4 Scope of study

This study is to effectively make an in-depth study on the impact of company income tax revenue on developing economies using Nigerian economy as reference point. This study will reveal the impact of taxation on revenue of organizations and as well focus on taxation policies and variances that occur among selected developing countries. The duration for this study will cover a five year period 2004 – 2008.

1.5 Significance of study

In this project work, efforts will be made to examine companies income tax, and organization’s efforts at fulfilling their financial obligations. This analysis will throw more light on the adequacy of revenue generation of companies and taxes imposed on such income generation.

However, this study will be of great significance to shareholders, investors and management of companies as it reveals the openness of standards of financial reporting practices. It as well enable companies capitalizes on their gains while focusing on areas of comparative advantage. Also, major beneficiaries of this study are auditors and accountants, as well as financial analysts, government personnel and the revenue taxation board will benefit from this study.

1.6 Limitation of the Study

In the process of writing this project, the researcher encountered some limitations. First, the researcher was constrained by time, the insufficiency of finance made the researcher almost tired of the project work. This went further to compound the researcher’s problem, since they were using the limited resources available for them to also work on the project.

Another constraint encountered by the researcher was scarcity of information. The relevant information from the CBN and other relevant bodies in most cases are not up to date. This also contributes to the delay of information been required to enhance the research.

1.7 Definition of Terms

Taxes: this is the money imposed on Individuals, groups or organizations who are engaged in business or gainful economic activities that is geared towards profit making.

Company income tax: This Tax is payable for each year of assessment of the profits of any company at a rate of 30%. These include profits accruing in, derived form brought into or received from a trade, business or investment.

Policy: can be referred to as prudent conduct, sagacity or general plan of action to be adopted by an organization.

Taxation policy: therefore, is the general plan of action on the pattern of arriving at a taxable amount that is considerable both to the management and shareholders or investors of the companies.

Financial obligation: it is the expected activities pertaining to the monetary accumulation, earnings and transactions records of companies. Paying taxes to government is one of such obligations.



REFERENCES

Atkinson, A.B. and J.E. Stiglitz. 1996. “The Design of Tax Structure: Direct vs. Indirect Taxation,” Journal of Public Economics 6, pp. 55-75.

Bird, R. (1999) "The Administrative Dimensions of Tax Reform in Developing Countries." In Tax Reform in Developing Countries, edited by Malcom Gillis. Durham: Duke University Press.

Chartered Institute of Taxation of Nigeria (2002) Concept on income tax: Cited at http://accounting.concepts/htm retrieved date: April, 13, 2007

Coelho, I.K, Isaiasal, T.Y and Harris, H. (2001) “Bank Debit Taxes in Latin America -- An Analysis of Recent Trends,” IMF Working Paper 01/67.

Campillo, Marta and Jeffrey A. Miron. 1997. “Why Does Inflation Differ Across Countries? In Reducing Inflation: Motivation and Strategy, edited by C. Romer and D. Romer. Chicago: University of Chicago Press.

Diamond, Peter and James Mirrlees. 2001. “Optimal Taxation and Public Production,” American Economic Review 61, pp. 8-27.

Friedman, Milton. 1999. “The Optimal Quantity of Money.” In The Optimal Quantity of Money and Other Essays, edited by Milton Friedman. Chicago: Aldine Publishing Company.

Gordon, Roger H. 2008. "A Public Finance Perspective on Economic Growth." Mimeo.

Gordon, Roger H. 2003. “Taxes and Privatization.” In Public Finance and Public Policy in the New Century, edited by Sijbren Cnossen and Hans-Werner Sinn. Cambridge: MIT Press.

Gordon, Roger, Laura Kalambokidis, and Joel Slemrod. (2004a). “A New Summary Measure of the Effective Tax Rate on Investment.” In Measuring the Tax Burden on Capital and Labor, edited by Peter Birch Sorensen, pp. 99-128.

Institute of Chartered Accountants of Nigeria (2006) definition of tax. Cited at http://accounting.concepts/htm retrieved date: April, 13, 2007

Newbery, David and Nicholas Stern. 1987. “The Theory of Taxation for Developing Countries.” New York: Oxford University Press.

Sanni, J.S (2007:5) "A Public Finance Studies on Economic Growth." McMillan Publishing Co. IB

Schneider, Friedrich. 2002. “Size and Measurement of the Informal Economy in 110 Countries around the World.” Mimeo, Department of Economics, Johannes Kepler Universityof Linz.


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CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

Nigeria is a federation with three tiers of government namely; Federal, State and Local Government. These tiers of government have their different expenditure responsibilities and taxing powers (fiscal federalism). This has serious implications on how the tax system is managed in the country. The Nigerian tax system is lopsided and dominated by the oil revenue. It is also characterized by unnecessarily complex, distortionary and largely inequitable taxation laws that have limited applications in the informal sector that dominates the economy (Odusola, 2006 and Jibrin, et al 2012). The system is concentrated on petroleum and trade taxes while direct and broad-based direct taxes like the value added tax (VAT) are neglected. This is a structural problem for the country’s tax system.

The Nigerian tax system favours the federal government since it controls the buoyant tax components while the lower tiers have jurisdiction over the less profitable ones (Odusola, 2006). In most instances the federal government taxes the corporate bodies while the state and local governments tax individuals. In the areas of concurrent taxation such as the personal income tax, capital gains tax and stamp duties, the federal government retains the legislative power while sharing administrative capacity with the states.

The Nigerian tax system is sick and faced with many challenges. The country is yet to develop an effective and efficient tax system despite the fact that the enforcement machinery of our tax laws is porous that anybody can go against it without being punished and this does not augur well for our economy (Ogbonna 2010).

Those who are charged with administration of tax are not empowered with state of the art equipment to perform. They are not often than not so ill-equipped, so ill-trained and so neglected that they become disillusioned, discouraged, frustrated and therefore hardly give their best services. Therefore, from indications, tax administration in Nigeria is generally poor and inefficient.

The administration of tax in Nigeria is vested in the various tax authorities depending on the type of tax under consideration. Such authorities are the Joint Tax Board, which is the apex unifying body for all tax authorities in Nigeria. It is established under section 85 of the Personal Income Tax Act, (Amendment) 2011, Federal Inland Revenue Service (FIRS) established by Section 1(1) of Companies Income Tax Act (CITA) 1990. It is charged with the powers of assessment, collection of and accounting for all the taxes which the federal government is empowered to collect. The State Board of Internal Revenue in each state is another tax authority vested with the administration of tax in each state. It is established by Section 85A of the Personal Income Tax Decree (PITD), 1993. The Local Government authorities in the state also have specific tax functions. They are established by Section 85E of the PITD, 1993. It is the responsibility of these bodies to ensure that tax administration is strengthened in such a way that no leakage or loopholes of collectible tax is allowed. Contrary to this expectation, there are some administrative problems giving rise to such leakages and loopholes.

Tax administration is all about the machinery put in place to determine, monitor and enforce the collection of taxes by government of a country. To Kiabel (2011) and Soyode and Kajola (2006), tax administration is “the process of assessing and collecting taxes from individuals and companies by the relevant tax authorities, in such a way that correct amount assessed is collected efficiently and effectively with minimum tax avoidance or tax evasion. Ogbonna (2012) noted that tax administration “involves all the principles and strategies adopted by any government in order to plan, implore, collect, account and coordinate personnel charged with the responsibility of taxation”. It also includes the effective use of tax revenue for efficient provision of necessary social amenities and other facilities for the taxpayers.

Tax is a compulsory levy imposed on a subject or upon his property by the government to provide security, social amenities and create conditions for economic wellbeing of the society (Appah, 2004). According to Ogbonna and Appah (2012), tax is “a major source of government revenue all over the world”. Azubuike (2009) noted that government uses tax proceeds to render their traditional function such as the provision of public goods, maintenance of law and order, defense against external aggression, regulation of trade and business to ensure social economic maintenance. Musgrave and Musgrave (2006) observed that the economic effects of tax include micro effects on the distribution of income and efficiency of resource use as well as macro effect on the level of capacity output, employment, prices and growth. Ogbonna (2010) stated that a tax is a compulsory payment imposed on income, profit, wealth, estate, property, goods and services of individuals and corporate bodies by the government for the sustenance of the government and for which there is no guarantee direct benefit. Taxes represent potent instrument of fiscal policy used by government to manage the economic development of the state. It constitutes a major aspect of the macro-economy (Aneke (2007) in Ogbonna (2012). Generally, the importance of taxation to a nation need not be over emphasized as it is a powerful tool of economic reform and a major player in every economy of the world.

1.2 Statement of the Problem

Tax administration and collection is a major problem facing taxation in the world (Jibrin, et al 2006). According to them, bad administration and collection of tax has led to tax evasion. According to Udabah (2002), the problem of collection and administration are the major issues facing taxation. Tax administration is problematic because of high rate of illiteracy, poor tax awareness and inadequate orientation (Ogbonna, 2010).

Over the past two decades oil has accounted for at least 70 per cent of the revenue, thus indicating that traditional tax revenue has never assumed a strong role in the country’s management of fiscal policy. Instead of transforming or diversifying the existing revenue base, fiscal management has merely transited from one primary product-based revenue to another, making the economy susceptible to fluctuations of the international oil market.

The need to address this problem led to several tax policy reforms. The tax policy reviews of 1991 and 2003, as well as the yearly amendments given in the annual budget, were geared towards addressing this issue.

1.3 Objectives of the Study

The study sought to examine the challenges of tax reform and administration in Nigeria. Specifically, the study sought to;

1. examine the major problems preventing effective tax reform and administration in Nigeria.

2. assess the causes of non-compliance with tax laws and policy by individuals and firms in Nigeria.

3. examine the causes and proffer solutions to the issue of poor tax collection in Nigeria.

4. Suggest solutions to the problems of tax reform and administration in Nigeria.

1.4 Research Questions

1. What are the major problems preventing effective tax reform and administration in Nigeria?

2. What are the causes of non-compliance with tax laws and policy by individuals and firms in Nigeria?

3. What are the causes and solutions to the issue of poor tax collection in Nigeria?

4. What are the solutions to the problems of tax reform and administration in Nigeria?

1.5 Significance of the Study

This study will be of immense benefit to other researchers who intend to know more on this study and can also be used by non-researchers to build more on their research work. This study contributes to knowledge and could serve as a guide for other study.

1.6 Scope/Limitations of the Study

This study is on tax reforms administration in Nigeria.

Limitations of study

Financial constraint: Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).

Time constraint: The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.

1.7 Definition of Terms

Tax: Tax is an involuntary fee levied on individuals or corporations and enforced by a government entity - whether local, regional or national - in order to finance government activities.

Tax Reform: Tax reform is the process of changing the way taxes are collected or managed by the government and is usually undertaken to improve tax administration or to provide economic or social benefits.

Tax Administration: The development and formulation of Federal tax policy relating to existing or proposed internal revenue laws, related statutes, and tax conventions. Tax administration includes assessment, collection, enforcement, litigation, publication, and statistical gathering functions under such laws, statutes, or conventions.

References

Appah, E. (2004): Principles and Practice of Nigerian Taxation, Port Harcourt, Ezevin Mint Printers and Publishers.

Jibrin, S. M; Blessing, S. E. and Ifurueze, M. S. K. (2012): Impact of Petroleum Profit Tax on Economic Development of Nigeria, British Journal of Economies, Finance and Management, 5(2), 60 – 70.

Kiabel, B.D. (2011): Principles of Taxation in Nigeria, Owerri, Springfield Publishers.

Musgrave, R.A. and Musgrave, P.B. (2006): Public Finance in Theory and Practice, New-Delhi-India, Tata McGraw-Hill.

Odusola, A. (2006): Tax Policy Reforms in Nigeria – Research Paper No. 2006/3, United Nations University – World Institute for Development Economies Research.

Ogbonna, G.N. (2010): Burning Issues and Challenges of the Nigerian Tax Systems with Analytical Emphasis on Petroleum Profits Tax

Ogbonna, G.N. (2010): Burning Issues and Challenges of the Nigerian Tax Systems with Analytical Emphasis on Petroleum Profits Tax.

Ogbonna, G.N. and Ebimobowei, A. (2012): Impact of Tax Reforms and Economic Growth of Nigeria: A Time Series Analysis, Current Research Journal of Social Sciences, 4(1-2), 1-4.

Soyode, L. and Kajola, S.O. (2006): Taxation – Principles and Practice in Nigeria, Ibadan, Silicon Publishing Company.

Udabah, S. I. (2002): An Introduction to Nigerian Public Finance, Enugu, Linco Press, Nigeria Ltd.


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CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

There has been in existence various tax policies before enactment of the direct tax ordinance by Fredrick Lugard in 1946. However, the deficiency of the ordinance was dealt within 1950 through the introduction of basis principles of taxing income of individual other than Limited Liability Company. The original purpose of taxation was to raise money to finance public expenditure since 1940 it has also became accepted that “taxation is one of the instrument used by government of the day on managing the economy” assessment of taxes on an individual in Nigeria purposely to achieve the set of objectives. It is also required to ascertain the effective and efficient execution of tax machinery set up by the Nigeria government to administer takes in Nigeria, these are Federal Board of Internal$ Revenue (F.B.I.R) and State Board of Internal Revenue (S.B.I.R). Proper personal income administration avoidance which is very common and rampant in Nigeria.

Personal income tax is charged on all income which accrues to people residing in Nigeria. It is also levied on all income arising within Nigeria no matter where the tax payer resides or his / her nationality.

The Oyo State Board of Internal Operates under both the Personal Income Tax Law of 1962 as amended by Personal Tax Law (Amendment) Edict 1962 (Edit Number (1) of 1977 and other federal tax law.

The background of taxation as a whole dated back as far a biblical days when the European Colonized were in government of Nigeria. The payment of the tax was made by money based on flat rate per head, later other forms of revenue like stamp duty, capital gain tax and betting business commission were also introduced business commission were also introduced and embraced by our people.

The decrees and acts that are in we as follows Finance (Miscellaneous taxation provision) No 2 decrees 1997. The Federal military government hereby decrees are as follows:

The personal income tax decrees 1993 The company’s income tax of 1999. The petroleum profit act of 1959. The value added tax decree 1993.

1.2 STATEMENT OF THE PROBLEM

In the previous year, the government machinery in tax administration encounters a lot of problems. The problem of personal income tax nowadays is the sources of income. People have been engaging in avoidance and evasion of tax from time to time since the Board Inland Revenue Imposed taxation. However, the major problem confronting tax, administration in Nigeria particularly the Internal Revenue Board of Oyo state is highlighted below:

i. Inability to provide adequate and appropriate guidelines and interpretation of legislation to the tax payer.

ii. Problem faced by the tax collectors in order to know the exact amount of individual income from each source of income.

iii. Inadequate orientation of the tax payer about the importance and usefulness of tax especially for people in rural area.

iv. Problem of tax avoidance and evasion, which is yet t0 be cured by the state Internal Revenue Board.

1.3 RESEARCH HYPOTHESIS

For the purpose of this research work, the researcher attempted to find out the validity of the following hypothesis;

Ho: The high rate does not bring about the tendency to evade or avoid tax in Nigeria particularly in Oyo State.

Hi: The high tax rate brought about the tendency to evade avoids tax in Oyo State.

1.4 PURPOSE OF THE STUDY

The aim of this project is to know the procedure, problem and prospect of personal tax administration in Nigeria and also to know whether the high rate of tax bring about evasion avoidance tax.

1.5 SCOPE OF STUDY

The scope of this study deals with the areas of the study project i.e the area they will cover. The scope of this study is strictly restricted to personal income tax administration on Oyo State under PAY – AS – YOU EARN SYSTEM (PAYE) and directly assessed income of self employed individuals. The exercise will cover a period of four years 1999 to 2002 so as to highlight the rend for better analysis of data that will be obtained. So that reasonable conclusion could b e drawn from it.

1.6 LIMITATION OF STUDY

The most prominent constraint is the high level of illiteracy among tax payers. It has in one way on the other contributed to the wrong computation of tax. Another factor is the total ignorance of tax payer in keeping proper accounting records. Adequate accounting records of business man and other self employed people is not kept for the tax authority to examine. There is also difficulty in study due to dishonesty by staff and this increase corruption in tax system. In conclusion, having consigns out with in the available time limit and on the basis of available data. It’s worth nothing that the quality of this research work was not reduced as a result of these barriers but rather the resource available was effectively and efficiently used.

1.7 SIGNIFICANCE OF THE STUDY

This research work will make an analytical review on personal income tax administration in Nigeria. The operation of the PLTA law and the procedure, problem and prospect of the research work. It is intended to show the effectiveness of the tax collectors and effect of avoidance and evasion on revenue collection from the tax payer and highlight the purpose of taxation.

1.8 DEFINITION OF TERMS

Direct Tax: - Is the tax that is leveled on income of individual and business firms which is actually paid by person on whom it is legally imposed.

Indirect Tax: - Is the tax levied indirect on people as they are levied on goods and services.

Stamp Duties in Nigeria: - Stamp duties are takes on instrument or every written document.

Fixed Duties: - This is one of the duties which do not vary the consideration for the document.

Unearned Income:- Is the opposite of the earned income and they are income not derived as a result of an individual direct effort of includes investment income such as dividends rent premium.

Tax Evasion: - Is when a tax payer will fully or intentionally failed to report a source of taxation income or seeks to reduce his tax authority.

Tax Avoidance: - It is any endeavor on the part of the tax payer to reduce his tax liability by taking specifics advantages of the provision of the law.

Executor: - It includes any person administration the estate of a diseased person.

Personal Relief and Allowances: - These are the reduction allowance to individual for a year of assessment.

Place of Residence: - Is a place available for individual domestic use in Nigeria on a relevant day

Tax: - Is a compulsory levy imposed on eligible citizen corporate bodies as well as goods and services to enable the government to finance its activities.

Taxation: - Is the tax paid into government purse from the income derived from business, trade, employment, petroleum, and profit etc.

Tax Policy: - This is line of action adopted by government in respect of taxation. It should be noted that taxation is one of the major fixed policy instruments used in regulation the economy booting, investment, resulting, inflation etc.

Tax Administration: - This is concerned with interpretation and application of tax laws.

Tax Rate: - Is the amount of tax payable per unit of tax base.

Tax Base: - Is the object on which tax are levied.

Tax Person: - Any individual or body of individual and any corporation, trust or executor was having any income which is chargeable with tax under the prevision of personal income tax act (PITA) 1961.

Tax Authority: - As a person or body of person responsible under the law of a territory for the imploring tax on the income of individual and companies and for the administration of tax law.

Year of Assessment: - This is the running for a period of twelve months (12) from 1st January to 31st December.

Assessment Income: - It is the amount of income from each source in the year immediately proceeding the year of assessment.

Tax Effort Index: - Is a measure of personal income tax performance.


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CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

There has been in existence various tax policies before enactment of the direct tax ordinance by Fredrick Lugard in 1946. However, the deficiency of the ordinance was dealt within 1950 through the introduction of basic principles of taxing income of individual other than Limited Liability Company. The original purpose of taxation was to raise money to finance public expenditure since 1940 it has also became accepted that “taxation is one of the instruments used by government of the day on managing the economy” assessment of taxes on an individual in Nigeria purposely to achieve the set of objectives. It is also required to ascertain the effective and efficient execution of tax machinery set up by the Nigeria government to administer takes in Nigeria, these are Federal Board of Internal$ Revenue (F.B.I.R) and State Board of Internal Revenue (S.B.I.R). Proper personal income administration avoidance which is very common and rampant in Nigeria. Personal income tax is charged on all income which accrues to people residing in Nigeria. It is also levied on all income arising within Nigeria no matter where the tax payer resides or his / her nationality. The Oyo State Board of Internal Operates under both the Personal Income Tax Law of 1962 as amended by Personal Tax Law (Amendment) Edict 1962 (Edit Number (1) of 1977 and other federal tax law.

The background of taxation as a whole dated back as far a biblical day when the European Colonized were in government of Nigeria. The payment of the tax was made by money based on flat rate per head, later other forms of revenue like stamp duty, capital gain tax and betting business commission were also introduced business commission were also introduced and embraced by our people. The decrees and acts that are in we as follows Finance (Miscellaneous taxation provision) No 2 decrees 1997. The Federal military government hereby decrees are as follows: The personal income tax decrees 1993 The company’s income tax of 1999. The petroleum profit act of 1959. The value added tax decree 1993.

1.2 STATEMENT OF THE PROBLEM

In the previous year, the government machinery in tax administration encounters a lot of problems. The problem of personal income tax nowadays is the sources of income. People have been engaging in avoidance and evasion of tax from time to time since the Board Inland Revenue Imposed taxation. However, the major problem confronting tax, administration in Nigeria particularly the Internal Revenue Board of Oyo state is highlighted below: Inability to provide adequate and appropriate guidelines and interpretation of legislation to the tax payer. Problem faced by the tax collectors in order to know the exact amount of individual income from each source of income. Inadequate orientation of the tax payer about the importance and usefulness of tax especially for people in rural area. Problem of tax avoidance and evasion, which is yet t0 be cured by the state Internal Revenue Board.

1.3 RESEARCH HYPOTHESIS

For the purpose of this research work, the researcher attempted to find out the validity of the following hypothesis

Ho: The high rate does not bring about the tendency to evade or avoid tax in Nigeria particularly in Oyo State.

Hi: The high tax rate brought about the tendency to evade avoids tax in Oyo State.

1.4 PURPOSE OF THE STUDY

The aim of this project is to know the procedure, problem and prospect of personal tax administration in Nigeria and also to know whether the high rate of tax bring about evasion avoidance tax.

1.5 SCOPE OF THE STUDY

The scope of this study deals with the areas of the study project i.e the area they will cover. The scope of this study is strictly restricted to personal income tax administration on Oyo State under PAY – AS – YOU EARN SYSTEM (PAYE) and directly assessed income of self-employed individuals. The exercise will cover a period of four years 1999 to 2002 so as to highlight the rend for better analysis of data that will be obtained. So that reasonable conclusion could be drawn from it.

1.6 LIMITATION OF STUDY

The most prominent constraint is the high level of illiteracy among tax payers. It has in one way on the other contributed to the wrong computation of tax. Another factor is the total ignorance of tax payer in keeping proper accounting records. Adequate accounting records of business man and other self-employed people is not kept for the tax authority to examine. There is also difficulty in study due to dishonesty by staff and this increase corruption in tax system. In conclusion, having consigns out with in the available time limit and on the basis of available data. It’s worth nothing than the quality of this research work was not reduced as a result of these barriers but rather the resource available was effectively and efficiently used.

1.7 SIGNIFICANCE OF THE STUDY

This research work will make an analytical review on personal income tax administration in Nigeria. The operation of the PLTA law and the procedure, problem and prospect of the research work. It is intended to show the effectiveness of the tax collectors and effect of avoidance and evasion on revenue collection from the tax payer and highlight the purpose of taxation.

1.8 DEFINITION OF TERMS

Direct Tax: Is the tax that is leveled on income of individual and business firms which is actually paid by person on whom it is legally imposed.

Indirect Tax: Is the tax levied indirect on people as they are levied on goods and services.

Stamp Duties in Nigeria: Stamp duties are takes on instrument or every written document.

Fixed Duties: This is one of the duties which do not vary the consideration for the document.

Unearned Income: Is the opposite of the earned income and they are income not derived as a result of an individual direct effort of includes investment income such as dividends rent premium.

Tax Evasion: Is when a tax payer will fully or intentionally be failed to report a source of taxation income or seeks to reduce his tax authority.

Tax Avoidance: It is any endeavor on the part of the tax payer to reduce his tax liability by taking specifics advantages of the provision of the law.

Executor: It includes any person administration the estate of a diseased person.

Personal Relief and Allowances: - These are the reduction allowance to individual for a year of assessment.

Place of Residence: Is a place available for individual domestic use in Nigeria on a relevant day.

Tax: Is a compulsory levy imposed on eligible citizen corporate bodies as well as goods and services to enable the government to finance its activities.

Taxation: Is the tax paid into government purse from the income derived from business, trade, employment, petroleum, and profit etc.

Tax Policy: This is line of action adopted by government in respect of taxation. It should be noted that taxation is one of the major fixed policy instruments used in regulation the economy booting, investment, resulting, inflation etc.

Tax Administration: This is concerned with interpretation and application of tax laws.

Tax Rate: Is the amount of tax payable per unit of tax base.

Tax Base: Is the object on which tax are levied.


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ASSESSMENT OF INTERNAL CONTROL SYSTEM IN GOVERNMENT ESTABLISHMENT

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ABSTRACT

The primary objective of this project work is to discern the impact of internal control system assessment in government establishment using university of Nigeria Teaching Hospital, Enugu as a case study. Many people think of internal control system as a highly technical field which can be understood only by professional Auditors. Actually nearly every establishment practices internal control in one form or another on an almost daily bases.

However, internal control system therefore could be viewed as a firms or organizational plan including all methods and measures taken to:

i) Safeguard its assets

ii) Ensure the accuracy and reliability of its accounting data

iii) Promote operational efficiency and

iv) Encourage compliance with the organizational policy.

These are the main concern of this research work efforts have been made in this research work to explain the normal governmental internal control systems, and its usage as an aid to asses government establishments. Also, the two categories of internal control are discussed. Various internal control procedures being practised in university of Nigeria Teaching Hospital are identified.

The findings were that internal control system needs urgent attention so as to ensure strict compliance to management policy.

Finally, in this research work, there is a constructive explanation of scope, objective, basis concepts and principles of internal control applicable in government establishment as an aid to solving the problem of expenditure control. The researcher therefore conclude that for internal control to be effective, emphasis should be placed on the accountability morality, integrity, Honesty, ethics and behaviours of the officers operating the system.

TABLE OF CONTENTS

CHAPTER ONE

Introduction

1.1 Background of study

1.2 Purpose of the study

1.3 Statements of problem

1.4 Research Questions/hypothesis

1.5 Significance of the study

1.6 Scoped of study 1.7 Definition of important terms

CHAPTER TWO

Review of Literature

2.1 Introduction

2.2 Assessment of internal control

2.3 Internal control objectives

2.4 Internal control techniques

2.5 Internal audit

2.6 Budgetary control

2.7 Independent of auditors

CHAPTER THREE

Methodology

3.1 Design of the study

3.2 Area of the study

3.3 Population

3.4 Sample and sampling procedure

3.5 Instrument for data collection

3.6 Validity of the instrument

3.7 Reliability of the instrument

3.8 Method of data collection

3.9 Method of data analysis

CHAPTER FOUR

Data Presentation and Analysis

CHAPTER FIVE

Findings and Discussion for Result

5.1 Discussion of the findings

5.2 Conclusion

5.3 Implications of the study

5.4 Recommendation

5.5 Suggestions for further study

5.6 Limitations of the study

References

Appendix

CHAPTER ONE

1.1 BACKGROUND OF THE STUDY

The chartered institute of Public and finance accountants (CIPFA) states that the internal control system comprises the whole system of controls, financial and otherwise, established by management in order to carry on the business of the organization in an orderly and efficient manner, ensure adherence to management policy safeguard the assets and ensure as far as possible the completeness and accuracy of the records.

Individual components of internal control system are known as “control i.e Internal control”.

The Canadian institute of chartered accountants, Exposure Draft of proposed auditing Recommendations describes internal control as comprising of the plan of an organization and all the co-ordinate systems established by the management of the enterprise to achieve management objectives by ensuring as far as is practical, the orderly and efficient conduct of its business including the safeguarding of assets, the reliability of accounting records and the timely preparation of reliable financial information. Internal control system, therefore canto be viewed as a firms organizational plan including all methods and measures by the firm takes to

(a) Safe guide its assets

(b) Ensure the accuracy and liability of its accounting data

(c) Promote operational efficiency and

(d) To encourage compliance with company policies

This is my abridged definition:

It is the responsibility of management to determine the internal control which is appropriate to the organization. The nature and extent of controls will vary between organizations and also from one part of an organization to the other.

The controls used will depend on the nature, size and volume of the activities and the degree of control which management are able to exercise personally, geographically distribution and may other factors.

Internal control can be divided into two main categories financial controls which are primarily concerned with legitimacy of expenditure and the security of assets and income and other controls mainly administrative which are created and maintained by management the ensure that an activity is relevant to the needs of an organization and is carried out in the most effective manner. These categories are independent and should be regarded in isolation as both have an impact on the performance of activities and their consequent cost and value to the organization.

Accounting and Financial Controls

These consists of all accounting, financial and monetary control techniques and systems built into the internal control system to promote and encourage the attainment of the objectives on internal controls. Generally, accounting and financial controls consists.

(a) Budgetary Control: This refers to formulation of plans of future activity, which by down carefully determined objectives and programmes of activity and provide yard stick by which deviations from planned achievements can be measured. It is defined as “the establishment of departmental budgets relating to the responsibilities of executives to the requirements of policy.

(b) Legitimacy of Income and Expenditure: All income and expenditure should be in accordance with the policy of the organization should be properly authorized and written in law.

(c) Security of Assets: Assets of the organization should be kept in properly custody and not wrongly applied either by error or intent.

(d) Accounting control: All transactions should be correctly recorded processed and control account should be maintained. It is in the bid to discuss those internal control systems that this work is carried out.

1.2 PURPOSE OF STUDY

Here the researcher intends to

i) Identify the various internal control procedures being practiced in university of Nigerian teaching hospital

ii) Critically evaluate the accuracy, adequacy and application of various internal control techniques

iii) Identify the principal problems associated with workers dissatisfaction and recognise the effect of such problems for control methods.

iv) Seek possible oriented solutions and suggest useful recommendation based on the researcher findings.

1.3 STATEMENT OF PROBLEM

The common problems encountered in Hospital Management includes

(i) Late and inadequate receipt of subventions from the

government

(ii) Placement of Management of the hospital in the hands of doctors instead of experienced administrations

(iii) Lack of steady policy

(iv) Inconsistency in the salary scale of Hospital staff

(v) Frequent internal control breakdowns

(vi) Poor accountability of officers

(vii) Lack of adequate motivation which has created the room fo row morals.

However, this study is therefore aimed at ascertaining the effectiveness techniques available in government owned recommend possible solutions using university of Nigeria Teaching Hospital as a case study.

1.4 RESEARCH QUESTIONS/HYPOTHESIS

In pursuance of the above objective of the study, the following four research questions are pased.

1. Is assessment of internal control system very vital for the smooth running of government establishment?

2. Is internal control system indispensable in government establishment?

3. Is there better planning and execution of internal control system in government hospital than private hospital?

4. Has internal control system accomplishes its practical role management and staff of University of Nigeria Teaching Hospital, Enugu.

1.5 SIGNIFICANCE OF STUDY

This research will be of invaluable importance to the online management and staff of the University of Nigeria Teaching Hospital. The management will be exposed t the specific objectives of internal control and also help them to close the gaps and weakness inherent in their adopted internal control system

1.6 SCOPE OF STUDY

This research is intended to appraise the existing internal control systems in government hospitals, using the university of Nigeria Teaching Hospital, Enugu as an example.

1.7 DEFINITION OF TERMS

The following terminologies are defined to reflect their meanings in the research.

Assessment: This means the evaluation of marits or act of accessing, a valuable for the purpose of taxation with respect to control system

GOVERNMENT ESTABLISHMENT: Refers to a permanent (Civil or military force or staff ruling or managing control system.

INTERNAL CONTROL SYSTEMS: This implies the inward body as functional unity or principle which regulate or check the specific objective and weakness. Inherent in the adopted running of government establishment.

BUDGETARY CONTROL: It is the establishment of departmental budget relating to the responsibilities of executives to the requirements of policy.

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[quote author=downloadproject post=72604905][/quote]
PARTNERSHIP BUSINESS AND ITS CONTRIBUTION TO THE ECONOMICS DEVELOPMENT AND GROWTH OF NIGERIA

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ABSTRACT

This project work was designed to examine the contribution of partnership business to the economic development and growth of Nigerian, Enugu Metropolis used as the case study.

The objectives of the study were as follows:

To Ascertain the ways of solving some problems that are hindering the growth of partnership business in Enugu.

To identify the roles of Enugu State government towards the formation of partnership business.

To make recommendation based on the research findings.

The researcher made use of both primary and secondary sources of data. In the primary source of data personnel interviews were held with some partnership business. In addition questions were also drafted for the business to tick were appropriate. The data Collected were analyzed in labour from –Chi - Square were used in testing the hypothesis and the hypothesis were tested at 5% level of significance.

In the recommendation the following were recommend among others:-

The government should assist in providing adequate capital base and give room for expansion.

Partners should endeavor to take quick decision concerning their business transactions.

This will however encourage more people to engage in partnership business.

Partnership should be an avenue through which adequate employment opportunities are provided to the terming population.

The government should increase their awareness to the masses towards their formation of partnership business.

TABLE OF CONTENT

CHAPTER ONE

INTRODUCTION

1.1 Background of the study

1.2 Statement of the problems

1.3 Purpose of the study

1.4 Scope of the study

1.5 Significant of the study

CHAPTER TWO

2.0 Review of Literature

2.1 The Origin of the Subject Area

2.2 school of though within the Subject area

2.3 The school of though relevant to the problem of study

2.4 Different methods of studying the problem

2.5 Summary

CHAPTER THREE

3.0 Research Methodology

3.1 Research design

3.2 Sources of Data

3.3 Population for study

3.4 Instrument for data Collection

3.5 Method of data Collection

3.6 Method of Data Analysis

CHAPTER FOUR

4.1 Data Analysis and Presentation of Results

4.2 Data Presentation

CHAPTER FIVE

5.0 Recommendation and Conclusion

5.1 Recommendation

5.2 Conclusion

References

Bibliography

CHAPTER ONE

1.0 INTRODUCTION

1.1 BACKGROUND OF THE STUDY

SECTION 1 (1) of the partnership act (1890) defines a partnership as the relation which subsists between person carrying on business in common with view of profit. It is however the joining together of two or more person in a business each of whom is personally responsible for the growth of Firm (Lipsey 1978) Thus are of the ways by which the sole proprietor can expand his business is to turn it into partnership.

It enable “now blood” to be introduced into the business and make possible an increase in capital (Hanson 1976). A partnership has greater continuity of existence partners have equal power and responsible and each is jointly liable with the others partners for all debts and obligations of the firm and a partners can make a contract which is binding on his Co-partners (Lipsey 1978) However it would Obviously be most unwise to enter into partnership with anyone unless convinced of his integrity. Judgement and business acumen. Trust is not only verbal trust but also a written deed of partnership which makes it easier to prove the terms of partnership in case of any dispute.

Furthermore, selection 19 of the companies and Allied matters act. (1990) Stipulate that maximum number of persons that can from a partnership is 20 persons that can form a partnership is 20 except in case of professional people.

Where by they are not professionals and exceeds the stipulates limit, the firm must register under that act or it will be regard as an illegal partnership (Oko, 2002).

Partnership business contributes tremendously tot he economic growth and development of the country, bringing about economics of scale, creates employment, improves the standard of living of the people and promotes business objectives (synergy Alimba 1998).

Mezue and associates which is among the numerous partnership business in Enugu is duly registered with the corporate Affairs Commission in line with the provision of the Companies and Allied matters act (1990) as an estate management firm which operation in its own name and not as an agent to any Large Firm. The firm was registered according to the rules and regulation governing the Nigeria Institute of estate Surveyors and values (NISV) in 1980 consequently, the firm went into full operation in 1982 as an estate firm for the provision of real professional estate.

Services to both the government corporate bodies and individuals.

It also indulges in the management and valuation of properties in many state of the Federation including Abuja.

Suffice it to say that all partners part take in the decision making and proper management of the firm. The firm has three branches located at Lagos, Onitsha and Aba with its head office at Enugu.

Each having a branch manager who take decision according to the rules and policies of the firm.

Finally, the overall motive of the firm is to deliver professional services to the people and also make profit extremely difficult to raise money from many persons through a partnership. And also the provide them with loans.

In Conclusion inefficient managerial ability is one of the problems of partnership business in Nigeria because most partners do not posses the technical know-how on how to effectively manager the partnership business.

Therefore the flowing research questions are asked, what are the contributions of partnership business to the economic growth and development of Enugu Metropolis ? What are the roles of government toward the formation of partnership business in Enugu Metropolis why do people engage themselves in partnership that any other types of business can be solved?

1.2 STATEMENT OF THE PROBLEMS

Partnership business are faced with numerous problems which includes the following

(1) PROBLEM OF UNEMPLOYMENT

There is a great deal of unemployment problem in our country most gratuities do not gain employment after their studies and even those who are employed in ministries and parastatal cannot absorb all that needs to be employed hence the need for the private sector participation. Incidentally except partnership business come to the resource and problem of this country remain an uphill task.

2. PRODUCTION OF GOODS AND SERVICES

Without partnership business the production of some of the goods and service will be in efficient. However, partners will bring out their technical and managerial skills during the production of goods and services which has more quality and also increase the qualities of such goods. This without partnership business there will not be much quality goods and services produced by the private sector since majority of the Citizens do not have much income to patronize Luxury goods. Similarly partnership business will allow individuals with limited capital to team up together to produce necessary goods for the teaming population.
3 INCREASE IN GOVERNMENTS REVENUE

Partnership business helps to increase governments revenue through the payment of taxes such as the registration of the company under the Corporate affairs Commission payment of Business there Levies e.t.c hence, without partnership business there would not be much private Companies which will on the others hand affect the government revenue generation.

1.3 PURPOSE OF THE STUDY

In view of the above mentioned problems which are associated with partnership business, let us concern ourselves with he problem of unemployment.

The problems of employment entails that without partnership business there would not be Job opportunities for the masses in Enugu Metropolis partnership business general employment for more than 30% of the masses in Enugu metropolis.

Most of our school graduate who are not employed, now have the opportunity of gather their Capital together in order to establish a business, thereby creating employment of themselves by selling up business to the economic growth of Enugu.

i Ascertain the ways of solving some problem that are
hindering the growth of partnership business in Enugu.

ii Identify the roles of Enugu state government towards the
information of partnership business.

iii Make recommendation based on the research findings.
SCOPE OF THE STUDY

Partnership business means’s by which people gather their resources together, transact business with the view of making profit.

This contributing towards economic growth and development of the nation.

This research project work tends to explain the impact of partnership business towards the Improvement of the Social-economic well being of the populace. It is also designed to expose any short falls n partnership business in Enugu metropolis thereby providing information on how partnership business is best managed.

SIGNIFICANCE OF THE STUDY:

Economic growth: It is graded as the increase per Capital of a Country.

Firm: Is the smallest unit of a Company that takes decisions with the product and sales of a commodity.

REFERENCES

Alimba J .O (1998) Lecturers note on Agric Business
unpublished Companies and Allies Matters decree
(1990) Section 19.

Hanson J. L (1978) A textbook of Economics Macdonald
and Evanse Lit Fifth Edition.

Lapsey R. G (1978) An Introduction to positive Economics
Harper and Row publishers Fifth edition

Okoh O. (2002) Lecture note on Business Law
unpublished.
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ABSTRACT

In Nigeria, it is difficult to firstborn what position these services occupy in its scale of preference going by the epileptic manner in which they are rendered.

Vandalization and the fit of public property here become the role rather than exception. As a result, daring thieves strict anytime to sabotage electricity cables, circuits, breakers, nuts, bolts, angle irons of transmission towers.

In 1950, in order to integrate power development and make it effective, the government passed the electricity corporation of Nigeria ordinances No 15 of 1950. This ordinance brought under on control the electricity undertaking section of the public works department and all these undertaking which were under native authority or municipal ownership and control.

The Niger Dennis authority was established by an Act of parliament in 1962. The authority was responsible for the construction and maintenances of Dennis and other on the River Nils and elsewhere generating electricity by means of water power construction of the Kaingi Ram which began in March 1964 was on schedule in December 1968.

TABLE OF CONTENT

CHAPTER ONE

1.0 Introduction

1.1 General background to the subject matter

1.2 Problems associated with the subject matter

1.3 Problems that the study will be concerned with

1.4 The importance of studying the area

1.5 Definition of important terms

1.6 References (using APA method).

CHAPTER TWO

2.0 Literature Review

2.1 The origin of the subject area

2.2 School of thought within the subject area

2.3 School of thought relevant to the problem of study

2.4 Different methods of studying the problems

2.5 Summary

2.6 References.

CHAPTER THREE

3.0 Conclusion

3.1 Data Presentation (Highlights of the study)

3.2 Analysis of the data

3.3 Recommendation

3.4 Conclusion

References

Bibliography

CHAPTER ONE

1.0 INTRODUCTION

1.1 GENERAL BACKGROUND TO THE SUBJECT MATTER

Social amenities such as power generation, pipe borne water, telephone services and other utility installations are services which make life pleasant for the citizenry. The absence in the country is a serious matter in the social life of modern men. This accounts for the product management of establishment that handles these services in countries where of the citizenry is a priority.

Here in Nigeria, it is difficult to fathom what position these services occupy in its scale of preference going by the epileptic manner in which they are rendered.

Vandalization and outright theft of public property here become the role rather than exception. The sad fact is that NEPA whose services are so crucial to the nation, is the most susceptible attacks from saboteurs. Its network of cables and other materials for electricity generation and distribution are basically over ground and are spread throughout the country making it not protected in most cases. As a result daring thieves strict anytime to sabotage electricity cables, circuits breakers, nuts, bolts, angle irons of transmission towers.

The national electric power, authority (NEPA) which is an establishment that handles the services of power generation, transmission, distribution and sales be briefly said its origin. Electricity power generation development in Nigeria started towards the closing year of the last century when the first generating plant was installed in the city of Lagos in 1898. From this date onwards and until 1950, the pattern of electricity development was in the form of individual electricity undertaking set-up at various towns, some of them by the federal government under the jurisdiction of the public works department and some by the native authority and one or two large municipal authorities.

In 1950, in order to integrate power development and make it effectives, the government passed the electricity corporation of Nigeria ordinance No 15 of 1950. This ordinance brought under one control the electricity undertaking section of the public works department and all these undertakings which were under native authority or municipal ownership and control.

The electricity corporation of Nigeria usually referred to as “ECN” then become the statutory body responsible for generation transmission, distribution and sales of electricity to all consumers in Nigeria.

The Niger Denis Authority was established by an Act of parliament in 1962. The authority was responsible for the construction and maintenance of dams and other on the River Nile and elsewhere, generating electricity by means of water power construction of the Kainji Dam which began March 1964 was on schedule in December 1968.

In September, 1969 the federal military government decided to merge the electricity corporation of Nigeria, and Niger Dams Authority into a simple body. A year later, a Canadian firm of consultants “Shavno limited” was appointed to look into the technical details of the merger. The report was submitted in November 1971.

By decree N0 24 of 29th June, 1972 (Which become effective on 1st April 1972) the electricity corporation of Nigeria (ECN) and Nigeria Dams Authority (NDA) were merged to become the national electric power authority (NEPA). The actual merger did not take place until 6th January, 1973 when a general manager was appointed. The decree stimulated that the authority is to develop and maintain an efficient co-coordinated and economical system of electricity supply for all part of the federation.

The affairs of the authority is min by mines members board whose members and chairman are appointed by the federal military government through the federal ministry of mines and power. The board is to lay down the policy of the authority and the chief executive sees to it that all decision of the board are efficiently executed.

The day to day managing of affairs lies in the hands of the general manager. It presents his activities are grouped under six functional divisions such headed by an assistant general manager. The divisions are administration, engineering commercial, operation and finance.

The Enugu district of the authority which is the researcher case study is headed by a district manager.

Other sub-divisional heads include senior manager distribution, senior manager sales, senior manager accounts and senior manager administration.

PROBLEMS ASSOCIATED WITH THE SUBJECT MATTER

This study entitled “problem and social affects of vandalization of government utility installations” attempt top identity among other things, the problems of vandalization to the citizenry of Nigeria, to the establishment that handles electricity generation and distribution and to the government of Nigeria:

(a) That in recent years the rate of vandalization has increased;

(b) That many has lost their live in an attempt to carry out vandalization exercise.

(c) That the authority concerned has spent hugs sum of money in replacing those vandalized items,

(d) That many companies have closed down as a result of vandalization of electricity connections in their locations;

(e) That community development has been hampered due to incessant vandalization in tier areas.

(f) That apart from loss of comfort, resulting from vandalization, replacement coat which would run into hundred million of naira will be spent by the government.

(g) A prolonged power failure caused by vandalization means that most companies have to spend external money on generators in order to ensure a constant supply of light.

1.2 PROBLEMS THAT THE STUDY WILL BE CONCERNED WITH

The researcher during the course of this study encountered a lot of problems among which are:

(a) Time and financial constraints: Time and financial requirements for a large scale research were not available to the writer as at the time of study. It would have required a substantial outlay and lot of time course the whole NEPA Districts and other organization who has been experiencing these vandalization cases.

(b) Poor response to questionnaire: Most of the people served questionnaires left them blank. A cross interrogations revealed that many think information compute might be taken seriously Inspite of the fact that the research work is purely for academic purposes.

1.3 THE IMPORTANCE OF STUDYING THE AREA

In recent time, Enugu metropolis and other major urban and rural in the state and nation in general have rather increased activities of criminal who specialized in cannibalizing and stealing of public utilities.

It is gravely alarming that Inspite of the government’s sustained efforts at providing these basic facilities of the overall benefits of citizens, some evil-sanded people still relish in vandalizing them.

The aim of the study is to make critical analysis and identify problems and effects of vandalization and suggest measures to control it. The management and staff of national electric power authority will find this work useful in their operation on how to guide their installations. Also the government and the public who usually suffer the cost of replacing the vandalized items would still value this contribution as their guide in protecting further vandalization.

1.4 DEFINITIONS OF IMPORTANT TERMS

1. Vandalization: Stolen of public/government property.

2. Cable: Length of thick or strong rope of fibre or wire strands.

3. Electrocuted: Kill accidentally or put to death by means of electric current.

4. Transmission line: It is a line being transmitted news/radio or TV gear and drive which transmit power from the engine.

5. Population: Number of people living in a place, country, etc.

6. NEPA: National electric power authority.

7. Hospitality: Friendly and generous.

8. Priority: Being poor, right to have or do before others.

9. Installation: Place in a new position of authority with the usual ceremony.

10. A military expedition with the purpose of punishing rebels

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ABSTRACT

Small and Medium Enterprises play a very important role in development of the Nigerian Economy. Making up about 97% of the entire economy, they serve as a source of employment generation, innovation, competition, economic dynamism which ultimately lead to poverty alleviation and national growth. Tax policy is one of the factors that constitute the Small businesses’ economic environment. This research work tries to establish if any relationship exists between the growth of Small businesses and the tax policy environment in which they operate in Nigeria. Questionnaires were distributed to Small businesses in Calabar, Nigeria and non-probability judgmental sampling method was employed. It was found out that from most Small businesses surveyed; they were faced with the problem of high tax rates, multiple taxation, complex tax regulations and lack of proper enlightenment or education about tax related issues. Although there was a general perception that tax is an important source of fund for development of the economy and provision of social services, the study revealed a significant negative relationship between taxes and the business’ ability to sustain itself and to expand. In order to obtain a vibrant and flourishing SME sector, the tax policy needs to be appropriate such that it will neither be an encumbrance to the Small businesses nor discourage voluntary compliance. A suggested solution is by increasing tax incentives through reducing tax rates and increasing tax authorities’ support services towards small and medium enterprises.


CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

The desire to build a civilized country with a strong and sound economy is the desire of every Country, including Nigeria. Tax payment is the demonstration of such a desire, although some income earners see it as a means of exploitation by the government. Tax payment is a voluntarily contribution imposed by the Government on personal income earners, companies, investors, exporters, importers etc. revenue realized from taxation is a major source of revenue to the Government of Nigeria, and as such is an important tool used in the development of Nigeria and her economy. A country’s tax policies and systems are greatly related with business ventures in that country. An economy that enacts favorable and progressive tax laws and policies will definitely breed successful and finance-healthy business organizations. Once businesses flourish, the economy flourishes as well, as there is no quicker way of stirring the affairs of an economy without the help of organizations that move services, goods, money and investments from those with surplus to those with deficit; those with marketable ideas/output to those who need these ideas and products. In essence, businesses and tax policies greatly depend on one another for survival. If one is greatly affected, the other follows suite.

The Nigerian Tax System has undergone significant changes in recent times. With the help of various studies and research done by tax experts, tax laws are being reviewed with the aim of repelling obsolete provisions and simplifying the main ones. Under current Nigerian law, taxation is enforced by the 3 tiers of Government, i.e. Federal, State, and Local Government with each having its sphere clearly spelt out in the Taxes and Levies (approved list for Collection)

Small businesses are generally recognized as important drivers of economic success. They are a key ingredient in the “ecology of firms” in a healthy economy, as job creators, sales generators and a source of tax/fiscal revenue. In Nigeria the importance of small business as a creator of jobs, particularly for those with a low skills level, is widely recognized. Small, medium and micro-enterprises (“SMMEs”) contribute 36.1% of the country’s gross domestic product (“GDP”) and employ 68.2% of the workforce in the private sector. In the agriculture, construction and retail sectors, SMMEs employ more than 80% of the total workforce. Over the last few years, the growth in employment by SMMEs has exceeded the growth in their contribution to GDP, highlighting the job creation potential of this sector of the economy.

Regulations and red tape are reported as one of the constraints to the expansion of businesses both in Nigeria and internationally. International research in this field shows that tax regulatory compliance costs are a significant portion of the total regulatory cost. Several other patterns emerged from the various local and international studies performed, among the most important being that tax compliance costs comprise a much larger proportion of total compliance costs for smaller firms.

Furthermore, various research has suggested that any effective approach to assist small business requires both policy and administration model adjustments in order to be effective. The 2005 year, therefore, saw the beginning of a process of structural change that was intended to build a positive tax compliance climate in Nigeria.

This report is focused on the survey of the compliance experience of professional accountants and bookkeepers (referred to as “tax practitioners” for the purposes of this document) in respect of their small business clients in Nigeria. It will be complemented by two related surveys, one of small businesses that are registered with the Federal Inland Revenue Service (FIRS), regarding their time and cost requirements for tax compliance, and one of informal businesses, regarding their perceptions about tax compliance.

1.2 STATEMENT OF THE PROBLEM

Small and medium enterprises (Small businesses) form the core of majority of the world’s economies. A study carried out by the Federal Office of Statistics shows that in Nigeria, small and medium enterprises make up 97% of the economy (Ariyo, 2005). However, the mortality rate of these small firms is very high. According to the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) Nigeria, 80% of SMALL BUSINESSES die before their 5th anniversary. Among the factors responsible for these untimely close-ups are tax related issues, ranging from multiple taxations to enormous tax burdens etc. In many government policies, small and medium enterprises are usually viewed and treated in the same light as large corporations. However, their size and nature makes them unique. Therefore, in dealing with small and medium enterprises, these unique qualities need to be considered. In levying of taxes for these enterprises in particular, issues that need to be considered are how these tax policies can be designed to bolster the growth of Small businesses and the most effective ways to administer them. The importance of Small businesses as a mechanism of economic growth and development is often ignored. They are perceived as minute establishments that have minimal effect on the state of the economy. However, if conducive environment is created for these Small businesses to grow through proper regulation, the SME sector has the highest propensity to transform our economy. In the same light, taxes are important for the government as they are the major source of funds for government expenditure. Income obtained from taxation of individuals and businesses are used to run governments as well as provide infrastructure such as good roads, water supply, and electricity which are essential for the smooth running of these businesses that are mainly manufacturing companies and as such rely on these commodities to survive.

Tax burden is a major problem in Nigeria as many business organizations are not favored by the tax systems and policies in place. Some businesses are already collapsing; while majority are still struggling to meet up with high tax rates to ensure their businesses still exist. According to a study conducted by Bateman (2007), it was reported in a survey that 90% of business owners admitted that taxes were a huge constraint to their businesses, as they claim taxes are high and do not allow new businesses to cover up initial cost.

1.3 OBJECTIVES OF THE RESEARCH

In-order to achieve the purpose of this research, the following are the objectives of the research:

i. To identify the challenges of Nigerian tax policies.

ii. To examine the influence of multiple taxation on small businesses and the economy as a whole.

iii. To identify ways of properly addressing the challenges of Nigerian tax policies in order to favour small businesses as well as encourage tax compliance.

1.4 RESEARCH QUESTIONS

In order to achieve the objectives stated above, the following research questions were used as a guide in achieving the objectives of this research:

i. What are the various challenges facing tax policies in Nigeria?

ii. What are the influences of the challenges of tax policies in Nigeria on small businesses and the economy?

iii. What must be done to address the challenges of tax policies in Nigeria to suite small businesses?

1.5 SIGNIFICANCE OF THE STUDY

This study gives a clear insight into the various ways in which tax policies in Nigeria can be executed efficiently to still favor small businesses and how some taxation policies in Nigeria can be properly tackled. The study also gives a clear insight into the various causes of why small businesses fail in Nigeria as well as the challenges of the tax policies in Nigeria. The findings and recommendations of the researcher will help in building a strong and better tax policy system in Nigeria, if taken seriously by government and the general public. The challenges of taxation in Nigeria are outlined in-order for drastic measures to be taken to tackle these challenges and meet the prospects of the general public so that revenue from tax policy to the government can be increased.

1.6 SCOPE OF THE STUDY

This research focuses mainly on the impact of Nigerian tax policies on the economy and small businesses in Nigeria. The study only torches on the challenges tax policies in Nigeria and how it can affect self employed business men and women, traders, and other forms of sole proprietorship businesses.

Based on the findings of this study other possible researchable areas may include studies on the various challenges of other forms of tax such as the Value Added Tax (VAT), Capital gains tax, Import and Export duties tax. Etc. Further research can also be done on curbing tax evasion in Nigeria. This study lasted for four months before it was complete. The study lasted from January 2011 to April 2011.

1.6 LIMITATION OF THE STUDY

The only limitation faced by the researcher in the course of carrying out this study was the delay in getting data from the various respondents. Most respondents were reluctant in filling questionnaires administered to them due to their busy schedules and nature of their work. The researcher found it difficult to collect responses from the various respondents, and this almost hampered the success of this study.

1.8 CHAPTER SCHEME

Chapter one of this study includes the general introduction, background information about the study, statement of the problem, objectives of the study, research questions, scope of the study, significance of the study, and the limitation of the study. Chapter two reviews all relevant literature relating to the study as well as the researcher’s views concerning previous studies on the challenges of tax policies. Chapter three includes the methodology applied in collecting and analyzing data, population definition, study site, and limitations. Chapter four presents the results of the study as well as data analyzed, and the interpretation of the analyzed data. Chapter five includes a summary of the study, conclusion and recommendations based on the findings from the study.

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ABSTRACT

The purpose of this research work is to describe the practical approach to an appraisal of pay-as-you-earn system of taxation with referee to Nssuka local government area. To guide this study, two hypotheses were formulated. A review of literature was down to ensure solid conclusion for the study. A structural questionnaire was developed and administered by the analysis adopted in this research work was chi-square, this method by researcher to ensure that result obtained were real and not by chance. Based on the above statement some of the major findings include presentation of data and their analysis. The chapter five is discussing a bout the findings made by the researcher and recommendation as well as conclusion. Conclusively, the researcher will add to the existing literature on an appraisal of pay-as-you-earn system of taxation. Scope of study and limitation talk about the areas the researcher is going to touch when discussing on the appraisal of pay-as-you-earn system of taxation system are place or area that have been unable to by researched upon to time.



CHAPTER ONE

INTRODUCTION

The global economic recession, which started in 1980’s as a result of decline in the economic growth of industries nation, high rate of inflation, dramatics rise in price of crude oil, increase cost of important a massive building-up of liquidity in the international capital market and unusual fluctuation in commodity prices was not fully felt in Nigeria until 1982, when the developed countries applied a series of restructure monetary and fiscal policies to curtail the a fore-stated problems. Seventeen years ago, precisely in 1983, the world bank report that the continuing recession in the industrial world several constrained developed countries growth in 1982. Weakness in the price of oil created difficulties for oil exporting developing countries’’.

Reporting specifically on Nigeria, the bank stated that`` foreign exchange resource declined in 1982 from a level equivalent to three-month worth. Investment, equal to about a third of gross domestic product (GDP) in 1980 –1981, has been radically reduced as both foreign exchange and government resource contract (85% of government revenue, both federal and states are direct generated from oil export).

An attempt to wriggle the country out of its financial predicament led to the initially of series of belt-tighten measure since 1982 to date. These measures include, ban on import of a large number of goods, specially taxes on luxury goods, enforcement of trick exchanges control reputation liberalized during the earlier boom, wages and ban on employment in the public sector, increased external borrowing in anticipation of oil income and of late the introduction of value added tax (V.A.T). The impact of the dwindling revenues to the federal government and this ever-decreasing portion of statutory allocation to states, has aroused tremendous interest in other source of revenue. Therefore, the hitherto relaxed tax laws are vigorously being enforced while levies of various descriptions are also being in various state of the federation.

Nsukka local government area of Enugu state is not exempted from this nation economic recession. One of the major sources of revenue to the local government, second to statutory allocation from the state and federal government, is the personal income tax (PIT) impose on all taxable persons in the local government. The personal income tax is allocated either through the Pay-As-You-Earn (PAYE) system in which employers of labour deduct tax due from the income of their employees and remit it to the division

In this study, my interest lies in appraising the effective and efficiency of Pay-As-You-Earn (PAYE) as a system of tax collection. The examination of the weakness interest in the system will be carried out and based on empincal observation, make suitable recommendation as to how loopholes in the system could be plugged especially at this time of wide spread awareness of the great potentials of internally generally revenues.

STATEMENT OF THE PROBLEM

The expectation of the public from governments (local, state and federal) in the developing countries are such that the later are saddle with responsibilities for the provision of various services. The 1979 Nigeria constitution sec.16 (a) state. Quite clearly that ``the state shall control the national economy in such manner as to secure the maximum welfare, freedom and happiness of every citizen as the basic of social justice and equality of status and opportunities’’.

It is in an attempt to fulfill these expectations and sometimes constitutionals requirement that government rely on, among either source, the imposition of various taxes, weather direct or indirect on the defined taxable persons in their territory. Such tax and poll tax. These taxes are collected at source at source include taxes on dividend interest and rates. Also; induction is tax on personal income tax through the Pay-As-You-Earn (PAYE) system has been effective in achieving its objectives of minimizing collection costs and reduction tax evasion while increasing revenue to the local government. We will all look into the problem of the pay-As-You-Earn system and suggest measures to solve such problems that might be identified.

PURPOSE OF THE STUDY

The purpose of the study can be broken down as follows:

To ascertain the impact of Pay-As-You-Earn system effectiveness on personal income tax revenue over a period of ten years.

To educate the truthfulness of the data provided by tax – payers in their tax return and ascertain the percentage of those who do not provide the information therein.

To find out whether there is any relationship between the truthfulness of information provided by tax payers in their tax returns and their age.

To identify the problem (if any) encountered by the internal revenue division and the employers of labour in the application of the PAYE system.

To find out how the employers perceive the PAYE system and the likely improvement that they would recommend.

RESEARCH QUESTIONS

What is the impact of Pay-As-You-Earn system effectiveness on personal income tax revenue over a period of ten years?

What is the percentage of those who do not pay their tax?

Is there a relationship between the truthfulness of information provided by tax payers in their tax returns and their age?

What are the problems encountered by the internal revenue division and the employers of labour in the application of the PAYE system?

How do employers perceive the PAYE system and the likely improvement that they would recommend?

RESEARCH HYPOTHENSIS

Ho: The effectiveness of the Pay-As-You-Earn system has not affected personal income tax revenue.

Hi: The effectiveness of the Pay-As-You-Earn system has affected personal income tax revenue.

SIGNIFICANT OF THE STUDY

The significance of adequate revenue for a developing economy such as that of Nigeria cannot be over emphasized. This study is being conducted with a view to exposing the inherent weakness on the Pay-As-You-Earn system of taxation.

The suggestion and recommendation made on how loopholes in the system could be plugged. Especially at this time of widespread weakness of the great potential of internally generated revenue would be very beneficial to the governments.

The local government will find it very useful in drawing up revenue and other methods of taxation which will in turn check the ever-dividing revenue to the government.

SCOPE OF STUDY

The study shall be confined to an examination of the Pay-As-You-Earn system as in weather it is an efficient and effective method of personal income tax (PIT) collection in Nsukka local government. It thus excludes any other system of tax revenue through Pay-As-You-Earn system with other tax revenue shall be evaluated only for the purpose of comparison.

LIMITATION OF THE STUDY

The study was limited by the following constraints:

There was shortage of relevant texts journal and documentaries on the subject of Pay-As-You-Earn system. Some of the answer gives opinions expressed in response to questions were subjectively based due to different personal experience. A study of this nature requires longer period of time than was actually available to me. There is this general problem that many Nigeria do not like to disclose their earnings. Finance available for this study was inadequate considering its scope and my financial standing as a student.

DEFINITION OF TERMS

Basis Period: the period in which the income of a taxpayer is assessed for the purposes.

Assessable Income: income of a taxpayer from all sources in a given basis period less all allowable deductions and nontaxable income.

Preceding Year Basis: A basis period by which income of a tax payer in the year proceeding the year of assessment is assessed.

Actual Year Basis: A basis period by which income of a tax payer in the year preceding the year of assessment is assessed in that year.

Year of Assessment: the government financial year in which the income of a taxpayer is assessed for tax purpose.

Chargeable Income: assessable income less all reliefs.

Reliefs: deductible allowance granted to a taxpayer by the law in a relevant year of assessment.

Tax Evasion: An illegal act of paying less tax than ought to pay.

Tax Avoidance: A legal act by a tax payers to pay less than he ought to pay.

Tax Returns: Relevant data supplies by a tax payer for the purpose of assessing income.

Tax Deduction Card: A document used in the Pay-As-You-Earn scheme in which total allowed reliefs are stated.

Tax Emergency Card: the card temporarily used before the tax deduction card are made available to the employer by internal revenue division.

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THE IMPORTANCE OF DEPARTMENTAL VOTE ANALYSIS BOOK

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CHAPTER ONE

1.0 INTRODUCTION

1.1 BACKGROUND OF THE STUDY

The Institute of Management and Technology (IMT) Enugu came into existence under the then Eastern Central State Edict N0 10 of 1973, promulgated in the Administrator of East Central State. Ajie Ukpabi Asika.

The edict took effect from ist July 1973 and thus give birth to what is now known as the Institute of Management and Technology (IMT) Enugu. Dr. Ukwu I. Ukwu became the first chairman of council while professor M. O. chijoke became the fist rector.

The IMT Enugu has seven Academia’s school and 27 Academic departments and five administrative divisions as follows: school of Engineering ahs four departments , Civil Engineering, Mechanical, Electrical and Chemical Engineering technology.

School of Science Technology has four departments. Science Technology, Building and Quantity Surveying, Food Technology, Statistics, Computer Science, Printing Technology.

The school of Communication Arts: It has two departments Mass Communication, Fine and Applied Arts.

The school of Financial Studies: This school comprises of Accountancy, Banking, Finance and Insurance.

School of Business Studies: Marketing, Purchasing & Supply, Business Administration and Management, Co-operative Economics and Management Secretarial Studies and Public Administration.

School of General Studies: It has four department, languages studies, social sciences and humanities, Basic Science and Preliminary Studies.

School of Technical Teachers Education: This school has the following departments foundation of Education. Business Education and Education.

School of continuing Education: This school is made up of the following departments. Staff development or distance education (Uni-Air programme) part time programme.

The Administrative Divisions: The rector, Registry, Bursary, Library, Estate and Works, Medical Centre.

The Bursary department has been recording the expenditure of these various department from the data of existence to date. The accounts are recorded in the Departmental office expenditure Analysis Book kept by the Bursar at the Institute.

But we shall lay more emphasis on the year 2000 to 2004 vote expenditure accounting books.

1.2 STATEMENT OF PROBLEMS

1. The institute has a problem of wrong naming of the vote books. The subheads are not properly coded.

2. There are misplacement of some vouchers which has not been recorded in the vote books.

3. There is attitudes of favouritism in the recording of vouchers in the vote books.

4. Some of the staff especially the Head of Department usually do not allow their vouchers to go through the due process. They prefer themselves going from office to office for collection of the money assigned to them.

1.3 PURPOSE OF THE STUDY

In the purpose of the study, the researcher intends to identify the mistakes and possible solutions to such.

1. To find out the reason for wrong coding of vouchers in the vote book.

2. To find out why should there be a misplacement of vouchers.

3. To find out what are the attitudes of the offices in recording he vouchers in the vote book.

4. To find out the impatience of the head of department in processing their vouchers in the vote book.

1.4 THE SCOPE OF THE STUDY

The researcher encountered numerous difficulties raising from finance, time consuming and personal effort.

In as much as the research is a student and carries out the research work with a limited amount of money, he is bound to have financial problems hence the research work required much money for producing questionnaire or interview guides and transportation. The financial problem prevented the researcher from traveling to other parts of the country for effective data collection housed only in Enugu Metropolis was used.

1.5 RESEARCH QUESTIONS

1. Does the officer incharge has the problem of wrong coding of vouchers in respect of vote books?

2. Does the officer misplace some vouchers during recording mails?

3. What are the attitude of the officer in charge when recording vouchers in the vote books?

4. What causes the impatience of the head of department in processing the vouchers in the vote book?

1.6 THE SIGNIFICANCE OF THE STUDY

There is a strong need to study the importance of departmental vote analysis book. The relevance of this study can never be over emphasized. The study is therefore rationalized on many ground.

· To provide a simple record for controlling expenditure

· To ensure that the amount sanction or voted is not exceed or over spent.

· To ensure that the amount is actually utilized for the authorized expenditure.

· To portray uncommitted balance at a glance. This objective is made possible by the adoption of the commitment basis in keeping the department vote expenditure analysis book.

1.7 HYPOTHESIS

The following hypothesis are to be tested.

Ho: There is no need recording vouchers in the vote books.

Ho: Keeping expenditure analysis book is not important in the institution.

Hi: There is need for recording vouchers in the vote book.

Hi: Keeping expenditure analysis book is very vital to the institution

1.8 DEFINITION OF TERMS

1. Departmental vote expenditure analysis is a tool used to ensure control of government expenditure.

2. Vote book: This is the entry where the actual amount charged for expenditure will be entered.

3. Payment vouchers: This is a document that has been authorized by the officer in charge to pay the person whose name is written on it.

4. Codes: This is an office terminology used on the files for getting tiles.

5. Payments: Gross payment on each vouchers.

6. Particulars: Payee’s name and addresses .

7. Voucher Number: Departmental Vouchers number are given from the voucher registry and should start from 1 at the beginning of the year.

8. Balance: Amount remaining after payment up to date must have deducted.

9. Total: Cumulative Payment

10. An Accounting Unit: This is an entity through which accounts and records are maintained and prepared.

11. Records: This is a document where all expenditures are entered.

12. L.P.O.: Local Purchase Order
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THE ROLE OF COMPUTER IN IMPROVING SECRETARIAL FUNCTIONS IN COMMERCIAL BANKS
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ABSTRACT

Although banks are developed with the major aim of providing financial assistance to business organizations, the commercial banks in Enugu Urban are short-term lenders.

This research work sought out the role of the computer in improving secretarial functions.

The instrument used for the research included questionnaire and oral interview.

The population of the study consisted of confidential secretaries in ten commercial banks from were the sample of seven were drawn.

From the data collected the following consisted the major findings:

1. That commercial banks in Enugu Urban make use of manual and computerized form of storing documents.

2. That the manual form has a lot of disadvantages, while the computerized form has a lot of improvement and has contributed greatly to the improvement of secretarial functions.

3. That some banks make provisions for the training of their secretaries and also the problems associated with the use of computer. From the findings, the researcher made the following recommendations:

1. That every higher institution of learning should include computer in the school curriculum.

2. Banks should organize training course for secretaries and also access the health of staff from time to time.

3. That proper documentation should be made using the highlighted methods.

TABLE OF CONTENTS

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

1.2 Statement of Problem

1.3 Purpose of the Study

1.4 Delimitation of the Study

1.5 Significance of the Study

1.6 Research Questions

1.7 Assumption of the Study

1.8 Definition of Terms

CHAPTER TWO

LITERATURE REVIEW

2.1 The Concept of Computer

2.2 The Position of Computer in an Officer

2.3 The Secretarial Function in the Banking Environment

2.4 The Efficiency of a Secretary with the use of Computer Technology

2.5 The contribution of computer in the Banking Field

2.6 The security measure towards information

CHAPTER THREE

METHODOLOGY

3.1 Design of Study

3.2 Area of Study

3.3 Population

3.4 Sample and Sampling Techniques

3.5 Instrument for Collecting Data

3.6 Methods of Administration and Collection of Data

3.7 Method of Testing the validity of Instrument

3.8 Method of Data Analysis

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS

CHAPTER FIVE

DISCUSSION OF RESULTS

5.1 Discussion of Findings

5.2 Conclusion

5.3 Recommendations

5.4 Limitation of the Study

5.5 Area for Further Research

APPENDIX

REFERENCES

QUESTIONNAIRE

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

The banking industry has been seen as the total and major provider of finance for business in our urban areas. In as much as these financial houses are made up of so many banks, they can be categorized into different classes, depending on the type of financial support they render to our business organizations.

The commercial banks, which are the oldest of the banking institution, are known to be short-term lenders, who prefer to assist by providing temporary financial accommodation and accepting liquid assets as security or collateral for their assistance.

These liquid assets accepted from the assisted companies are also documented in the banking office. And it is one the basis of proper documentation of agreements that these assets can be withdrawn/released to the customer who made the proposal.

The system of documentation of assets and information is carried out by the secretary of every bank, and such secretarial functions are done by only the professionals in the field. Hence, they are called “confidential secretaries”.

This group of secretaries are said to be confidential because most of the banks secrets are expose to them as they carry out their secretarial duties. However, humans, being what they are might be subjected to misfortunes and carelessness in a crowded environment. Hence, it is better to device a means for proper documentation to safeguard the banks assets.

The introduction of computer to assist the secretary, will help in the improvement of these functions by, presenting the records on time and when need. It also makes these information’s to be confide to only those concern. This confidence is based on the ability of the computer to store give assess aid to only those who know where and how it is safeguarded.

Finally, the computer also have some special skills built within to help the secretary handle, process and compile other office duties which will need further improvement on its needs.

1.2 STATEMENT OF PROBLEM

The secretarial section in the banking hall is positioned in a confine area of the building. This shows that the duties of a secretary in the industry is completely personal and private. Therefore, it should safeguarded from public affairs.

However, all information, which involves customers account data, staff (bankers) data and bank’s information are compiled and stored in this section.

As the banking activities increase, the processing and compilation of account in the industry becomes cumbersome to the secretary and in turn will involve mistakes and misinterpretation of information in the system.

Hence, there is need to improve one t he working tools used in the bank, and this improvement is based on the typewriter used for producing data forms and passbooks.

Secondly, in the communication of information from one banking location to the banking industry to reduce the idea of piling files in the office.

The computer was introduced to assist the secretaries in their functions, but the researcher does not know if actually it has improve the secretary’s duties or if the secretary knows how to operate the computer.

This research work sought out the contribution of the computer on improving the functions of secretaries in commercial banks in Enugu Urban.

1.3 PURPOSE OF THE STUDY

The purpose of this study is to

1. Find out if secretaries in commercial banks within Enugu Urban use the computer.

2. Find out if the use of such computer improves societies reference.

3. Find if they are trained to use the computer for their official assignments

4. Find out the problems they encounter by using the computer

5. Recommend other appropriate ways to improve the secretary’s job.

1.4 SCOPE OF THE STUDY

This research work covered only the contributions of the computer on improving the secretary’s performance.

The study was conducted in some commercial banks within Enugu Urban.

1.5 SIGNIFICANCE OF THE STUDY

The introduction of computer technology in the field of secretarial studies will benefit the secretary by making secretaries to be lucrative in the labour market, increase working skills in a reduced time and strength by making all jobs to be ready, neat improved and impressive to the customers and bank as a whole.

It will benefit the banking industry in turn by presenting all information’s on time and for what and how it is needed. It will also create increase in the acceptability and reliability of bank’s information to the outside world.

Finally, this study will benefit the society, as it will help in the increase of idea of computer literacy and bring about a modern business life.

1.6 RESEARCH QUESTIONS

The following questions were developed to guide the study

1. Do secretaries in commercial banks use the computer to perform their jobs?

2. To what extent does the use of computer improve secretaries performance?

3. To what extent are the secretaries trained to use the computer?

4. What problem do secretaries encounter by suing the computer?

5. What recommendations should be given to guide the use of computer in our office today?

1.7 ASSUMPTION OF THE STUDY

The researcher assumes that the contributions of the computer will improve the standard in the system of processing, filling and documentation of bank’s information. Its introduction in the secretarial field will go a long way by presenting the secretary more equipped to meet up union the challenges of the modern business world.

It is also assumed that the use of computer shall improve the secretary effectively and efficiency, which would out rightly result to, improved productivity.

1.8 DEFINITION OF TERMS

SECRETARY – Secretary is used in this project to refer to one who possesses a mastery of office skills, who can assume responsibilities with or without direct supervision, can exercise initiative and above all can make decisions within the a re of delegated authority.

COMPUTER - Computer is used in this project mean a machine that accept data from an input device, performs arithmetic and logical operations in accordance with certain pre-defined sets of instruments (programs) and finally transfers the processed data to an input device.

DATA - Is defined by Anuform et al (1998) as unprocessed information or a raw fact.

FILE - The Advanced Learners Dictionary of English defined file as a holder used for keeping papers together.

DISKETTE - Is a hardware device that is used in storing information.

OFFICE - Obodo and Ogbu (1999) take office to be a place where clerical or administrative activities are carried out.

INFORMATION - Is used here to mean a processed data.

SOFTWARE - Anuforom et al (1998) defined software as a collection of programs that work together to accomplish a task.

PROGRAM - Is used in this project to mean a set of instructions that tell the computer what to do and how to do it.

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THE PROBLEMS OF HOSTEL MANAGEMENT & ACCOMMODATION IN HIGHER INSTITUTIONS IN NIGERIAN

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ABSTRACT

The topic of this work is auditing as a measure on public accounting with reference to federal ministry of finance. Abakaliki.

To guide this work, four-research question and four null hypothesis were formulated. A structured questionnaire was produced to get response from the respondents. The statistical tools use to analyze both the descriptive and inferential include mean and t- test statistics to give worth for the results generated.

The finding on include that authoring promote transparency, accountability, deter waste and encourage good governance in the FMOE, Abakaliki. Also that the application of professional Edith’s and auditing standards by auditors in the ministry is questionable more over, that there was interplay of nepotism, favoritism and political affiliations in the appointment and removal of auditors in the based on the major findings, it was recommended that merit should be encourage also quality should be discourage a well as that of quote appointment in financial industries.
TABLE OF CONTENTS

CHAPTER ONE

INTRODUCTION

1.0 Background of the study

1.1 Purpose of the study

1.2 Statement of problem

1.3 Objective of the study

1.4 Significance of the study Research questions

1.5 Research questions

CHAPTER TWO

Literature Review

CHAPTER THREE

3.0 Research methodology

3.1 Research design

3.2 Areas of the study

3.3 Population of the study

3.4 Sample size

3.5 Administration of the instrument

3.6 Method of data Analysis

CHAPTER FOUR

4.0 Presentation analysis and interpretation of data

4.1 Summary of results

CHAPTER FIVE

5.0 Summary of findings, conclusion and recommendation

5.1 Discussion of result findings

5.2 Recommendations

5.3 Conclusion

5.4 Limitation of the study

Reference
Appendixes LIST OF TABLES

Has IMT ever allocated hostel rooms all the applicants?

What do you think is responsible the non-allocation of hostel rooms to all the IMT applicants?

How do student in hostel read their lecture notes, especially during the time of examination?

Does this distraction has any adverse effect on the students, academic progress?

What is the resultant effect of this on the students in particular, and Imt. In general either in the labour market in the outside world?

How do students especially the female ones, who were unlucky to secure hostel accommodation, cope?

Why did consider any of the alternatives in table as improper?

Why is it that students living of the campus are not happy and secured?

What do student of IMT usually scrambles over hostel accommodation, irrespective of the protocol involved and limited available space?

CHAPTER ONE

INTRODUCTION

The establishment of the institute of management and technology (IMT) Enugu, there existed a college of technology up till 1967, also in existence at then were the institute of administration and the cooperative college. Unfortunately, none of this institution was able to meet up to the standard of an average higher institution of learning of course; most of their courses were limited to civil servants. Not only that, they cannot award certificate beyond ordinary level diploma (OND).

In an attempt to remedy this and advance the course being offered by the aforementioned institution and perhaps put them into acceptable standard the Ukpani Asika administration on list April 1972, merged the former college of technology with the college of administration.

Nevertheless, the amalgamation of the two-sister school could not meet up with both the state and national needs. Administration set October, 1972, the East central state administration set up a provisional council to determine structure of the government, the appropriate structure of an autonomous institution that would produce high quality technologist and technicians, professional managerial manpower in certain subject areas that will rhyme with the state and national needs.

Consequently, on 3ist may 1973, the edict no of 1973, titled” the institution of management technology Edict” was promulgated. The Edit become operational from Ist July, 1973 and thus gave birth to what is now known as the institute of management and technology (IMT) Enugu.


1.1 BACKGROUD OF THE STDUY

A hostel by definition is a building in which cheap food and lodging is provided for students, but unfortunately in tertiary institution in Nigeria. The never seems to be the case. This is what prompted as to research on this issue. This research, though on higher institutions, has a special reference on the institute of management and technology (IMT) Enugu.

It has been established that the inadequacy of hostel accommodation has an adverse effect on then actualization of qualitative and standard education in Nigeria, universities and polytechnics, that is why we have taken it upon our selves to find out the lapses and problems that has heralded to this problem of inadequate accommodation.

More so, there are other problems which prompted us to research on this topic this include: students involvement in armed robbery

Student’s involvement in prostitution

High rate of disobedience by student as a result of not living in an academic environment.
PURPOSE OF THE STUDY

The problems associated with this subject matter includes that students in higher institution are being deprived of their sociological and psychological needs as a result of poor hostel accommodation. Include the student can stay in a room impacts some psychological pains on the students, as privacy is to a large extent

Further more, the academic pursuit of the students has being hindered, the students now pay less attention to studies. In I.M.T for instance, that institution has two campus and some of the students who stay in campus two now have to risk their lives in transporting themselves to the other campus. Not only that, the students spend a lot of money in transportation and education and the under standing which the students are supposed to gain on the part of the school it self, some of the rooms which were made to accommodate students are being used as offices for the stay in the institutes. Some of the rooms are vacancy and this being wasted because of poor management all this adversely affects the student academic pursuit.

STATEMENT OF PROBLEM

This study will be concerned with the problems posed by poor hostel accommodation, as it affects the quality of education in higher institute with particular reference to the institute of management and technology, ( IMT) Enugu and these are as follows:

The students lack concentration on studies as a result of deprivation of privacy

Students pay less attention to studies and spend much of their time trying to make money, as the money they have, have been spent on transportation.

Cultism is about to take our the academic activities that are supposed be going on in the school, as most of students who stay off campus now mix with undesirable elements and they get involved in corrupt practices

The dual campus system makes the students to be worn out before reaching their lecture halls.

Administrative lapse has hindered the implementation of policies that could enhance the quality of life of the students in the hostels.

The fact that apart from the hostel fees, student who stay in the hostels spend a lot of money on feeding and acquisition of other recreational facilities.

Student says they bribe officials before rooms could be allocated to them.

Why school authorities fail to provide accommodation for students eg in ESUT for instance, their is no accommodation for students, lest alone saying that it is inadequate.

The last but not least is for us to find out what the management is doing about the in suffivier rooms of accommodation in IMT for instance as some of the rooms that were meant to accommodation students are now being used as offices.

INCLUDE: OBJECTIVE OF STUDY

By and large, accommodation, irrespective of it s nature or shape lost ensure reasonable comfort and relaxation. To ensure thus, it must not be in capable of providing adequate rooms of accommodation and certain basic recreation facilities such as pipe borne water, library centers, etc. but unfortunately, most, if not all the higher institution of learning in Nigeria are devoid of some of these basic facilities and infrastructure.

The school, having been more advance and nationally known, created more rooms for the creation of more departments, which paved way for admission of student and recruitment of more personal.
SIGNIFICANCE OF THE STUDY

The project will be of immense importance to the strident and authorities of tertiary institutions, especially imt as it would not only help them trace the cause and effect of accommoda5tion problem but also suggest how best to tackle them. Above all the way the researcher squarely traced and uprooted the root causes and effect before dashing out her recommendation will alert the government too quickly and precisely intervene, thus bringing the problems of poor student’s academic performance in adequate accommodation.

RESEARCH QUESTIONS:

Does IMT have enough accommodation space f0r his student?

Does inadequate hostel accommodation affect the student study habit?

Does lack of hostel accommodation contributes to the unnecessary exposure of IMT female student to sugar daddy and landlord?

Are students happy to be accommodation outside the two campuses?

Does accommodation problem make student of IMT spend most of their money on security accommodation else where?

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MANAGEMENT/LABOUR RELATIONS & ITS EFFECTS ON PRODUCTIVITY

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CHAPTER ONE
INTRODUCTION

1.1 BACKGROUND OF THE STUDY
The word management has been defined, as getting things done through people. It is a process of setting objectives, organizing resources to attain these predetermined goals, and then evaluating the results for purpose of determining future actions.
Hodgetts, (1990) said that management has for thousands of years been a key to success to individuals and civilizations alike.
Labour is one of the factors of production and consists of all human energy expended in the production and distribution of goods and services.
Nwachukwu (1988) opined that this definition includes all professional executives, all levels of employees and self employed people. According to the United States Bureau of census, the labour force includes all who are willing and able to work whether employed or self employed.
Productivity is the achieved set objectives in firm by the workers. It is the output of what the input of workers yield productivity when increased, favours the firms because this means that the predetermined goals of firm are realized but when it is decreased the firm is at loss and this affects both management and labour in the context of this research work, management should be seen as owners of business, firms of categories of management who participate in the setting objectives of firms and in the decision making, those who take leadership positions in such firms.
Labour in this work should be seen as those hired employees of a firm who takes directives from the management in carrying out their official duties, who have no hand in the decision and objective settings of the firm, who through the management gets done the work that should be done in order to achieve the set objectives.
These two groups, management labour are the two major groups, that exist in firms where goods and services are produced. These two groups must be built up effectively and efficiently in any firm for a harmonious work flow between labour and management.
Nwachukwu 91988) had to state that management must work harmoniously with employees and must therefore develop programmes and policies that will enable them to achieve the best results of the organizational goals, understands labour (Employees).
Most often management labour are in conflicting objectives. This comes in because management will always want higher productivity with minimal costs while labour will want to achieve higher price for its members through the instrumentality of labour unions. The conflicting objectives between labour management always result in strike action which causes loss of man-hour which results in decreased productivity.
The need to promote and improve good relationship between management cannot be over emphasized. In all managements, the management of human beings at work are the most complex. Management, therefore it needs to relate very well with labour in any firm like NITEL Plc. So that there will be no disruption to achieving the set objectives which will hinder productivity.
When labour is not satisfied with its management or management not satisfied with its labour, there is always a bridge to harmonious working in the firm and productivity suffers.
As a means of achieving industrial peace, high productivity and attainment of all organizational objectives, management should regard and treat labour as the greatest asset of the organization having their interest in mind and communicating them effectively.
All the factors of production in firms are useless and cannot yield anything without human direction and effort.
Labour should understand that employers would benefit and be happy if they should put in all their best to improve productivity and work towards that. They should see with the management in times of crisis in firms and maintain their loyalty with the management.
Management should equally know that their effective communication to labour through the trade unions, their involving them in decision making, motivating them, setting up an effective leadership will help to promote relationship between the two groups and productivity will be on the increase.
An aggrieved worker is usually depressed, has a suggesting or law morale and poor attitude to work which affects productivity.
Thus, there is need for harmonious understanding between management labour in any firm in order not to allow the firm to run into chains of problems which hinders productivity and efficiency.
This study therefore reviews the importance of good management labour relationship and its effects on productivity in a telecommunication firm hence NITEl Plc, Enugu as a case study.

1.2 STATEMENT OF THE PROBLEM
Many factors have been hindering the good relationship that should exist between management labour in many organizations which NITEL Plc is not an exception. This unhealthy relationship between management/labour has a force which hinders productivity which is the main goal of any oriented organization.
The neglect of workers’ interest as revealed in certain behaviours by workers of NITEl Plc, Enugu was observed by the researcher.
i. Employees may not be satisfied over the management’s attitude on the handling of performance appraisal system which is not taken into consideration in areas of training and promotion of staff.
ii. It is not clear whether there is any motivational incentives for the staff of NITEL Plc who stand as the key officers of the firm and are more exposed to risks in the course of discharging their duties.
iii. Ineffective trade union in NITEL Plc which does not represent the employees well in the management most often makes the workers feel that their interest is not protected by the trade union leaders on the management level.
iv. Employees spend a valuable man-hour discussing manager’s behaviour as it affects them and this attitude is likely to affect productivity which is the key objectives of setting up a firm.

1.3 PURPOSE OF THE STUDY
The purpose of this work is to identify how good management labour relations of NITEL Plc will help to bring to the knowledge of the management: specifically, the study seeks to investigate:
1. The dissatisfied state of the workers over the handling of performance appraisal records as it concerns promotion and training of staff.
2. The need for motivation in any firm especially as regards to the workers of NITEL Plc.
3. The incompetent trade unionism in the firm which does not make a good representative of the workers.
4. The need for good management labour relationship in a firm such as in NITEL Plc.

1.4 SIGNIFICANCE OF THE STUDY
This project work will be of immense benefit to NITEL management and also to other employers of labour, policy makes and those who want to get the desired result of setting up firms.
On the side of employees both at NITEL or any other organization, the work will help them to realize that employers need their honesty and loyalty in discharging their duties. This will help them (employees) to reap the benefits of where they work because when an organizational goals are achieved.
Furthermore this study will contribute to policy formulation that will provide checks on the interactions between management labour and creates an environment that will sustain established industrial harmony.
When the finding of this study are implemented by government or any organization, they will improve the relationship between the management and labour which will create efficiency and effectiveness and high productivity at the working places. It will also help to maximize human resources as much man-hour would be utilized in production than in an endless confrontation and dialogue.

1.5 SCOPE OF THE STUDY
This project work which uses NITEL Plc as the case study is carried out in NITEL Plc, Enugu, Enugu State.
The researcher took time to study the type of relationship that exists between labour/management of NITEL Plc and the effect this has on productivity of the firm.

1.6 RESEARCH QUESTIONS
The following research questions will guide the study:
1. Are the NITEL workers satisfied over the use of annual performance appraisal records by the management?
2. Are there some motivational incentives for the staff of NITEL Plc?
3. Does the performance of the trade union of NITEL Plc encourage or discourage workers?
4. Does the management of NITEL relate well with its employees?

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ASSESSMENT OF CAPITAL GAIN TAX ADMINISTRATION IN NIGERIA

CHAPTER ONE

INTRODUCTION

BACKGROUND TO THE STUDY

Taxation is a compulsory levy imposed by the Government on the incomes of taxpayers in a geographical territory in order to defray the expenses of governance. This implies that anybody that generates income must compulsorily pay taxes. There are different types of taxation. These include the personal income tax, company’s income tax, and petroleum profit tax, value added tax and the capital gains tax. Recently, the issue of capital gains tax in the Nigerian has come to the fore. Government, from time to time, has the responsibility of reviewing the tax position as a component of the subsisting fiscal policy for the purpose of meeting given objectives. However, each review naturally elicits mixed reactions from the stakeholders.

Governments in all parts of the world and at all points in history have faced similar challenges when it comes to funding their ambitions to develop their country or state and to give a good standard of living to the masses in their country or state. We do not believe that governments in the past or in today’s developing world are any less rational or farsighted compared to those in today’s developed world. For this reason, in most countries of the world, the primary objective and purpose of taxation is essentially to generate revenue or raise money for government expenditures on social welfare.

The importance of taxation lies primarily in its ability to raise capital formation for development and growth of the economy and also, in assisting in the regulation of consumption pattern resulting in economic stabilization and effective redistribution of income (ICAN, 2009).

If these are the main objectives of taxation, it is therefore highly important to have in place a strong and vibrant tax system, not only at the Federal level but also at the state and local government levels, so as to ensure that the objectives of tax system are achieved.

With the federal government poised to eliminate the budgetary deficit in the coming year, a debate has commenced about how best to direct future budget surpluses. Some voices have called for tax relief while others have emphasized new spending.

In Nigeria the Capital gain tax administration aims and tries to tax each company in the state more effectively. However the level at which the capital gain tax Administration in Nigeria tend to achieve its desired goals and objectives depends mostly on the tax office and the company that is operating in each state, also when an individual or company is been taxed by the federal board of inland revenue (FBIR) such taxpayer is meant to give an accurate information about their gain or income but some go to the extent of forgery in provision of their documents which gives an incorrect information to the board, thereby causing reduction in their tax assessment.

The backdrop to these fiscal policy discussions is a sluggish economy. The consensus view of most economists is that the Nigeria economy will continue to struggle with lowers than “normal” or historic levels of economic growth. Low economic growth has broad implications including slower growth in employment, income, and ultimately living standards. This means any debate about using future budgetary surpluses should focus on policy measures that can improve economic growth in both the short and the long term.

One area of policy reform that could contribute to higher levels of economic activity is capital gains taxation. A wealth of research shows that capital gains tax reform can increase the supply and lower the cost of capital available to new and expanding firms, and in turn lead to higher levels of entrepreneurship, economic growth, and job creation.

The primary reason that capital gains tax reform can have these posi­tive effects is related to what economists call the “lock-in effect.” Because capital gains are only taxed upon realization, high tax rates on capital gains can create an incentive for investors and asset holders to retain their current investments even if more profitable and productive opportunities are avail­able. The magnitude of the lock-in effect depends on a number of factors, but a series of empirical studies has found a negative relationship between capital gains tax rates, asset sales, share prices, and other proxies for investor activity.

A capital gain (or loss) generally refers to the price of an asset when it is sold compared to its original purchase price. A capital gain occurs if the value of the asset at the time of sale is greater than the initial purchase price. A capital loss occurs if the value of the asset at the time of sale is less than the purchase price.

Capital gains taxes, of course, raise revenues for government but they do so with considerable economic costs. Capital gains taxes impose costs on the economy because they reduce returns on investment and thereby distort decision making by individuals and businesses. This can have a substantial impact on the reallocation of capital, the available stock of capital, and the level of entrepreneurship.

Capital gains are taxed on a realization basis. This means that the tax is only imposed when an investor opts to withdraw his or her investment from the market and realize the capital gain. One of the most significant economic effects is the incentive this creates for owners of capital to retain their cur­rent investments even if more profitable and productive opportunities are available.

Capital gains tax has been justified on the ground that capital gain on assets increases a person or person’s taxable capacity by increasing his power to spend or save. Capital gains are not distributed among the different members of the tax paying community in fair proportion to their taxable incomes, but are concentrated in thehands of property owners and it has been argued that theirexclusion from the scope of taxation constitutes a serious discrimination in tax treatment in favour of a particular class of taxpayers.

Non payment of capital gains tax will create discrimination in favour of property owners that will lead to further reinvestment of those gains in assets thereby perpetuating further severe inequalities in income and wealth as capital gains only accrue to those who own property. Non payment of capital gains tax accruing especially to those in the upper income bracket puts a greater relative burden on the income tax of those who do not enjoy such gains (Ayua, 1999).

In developing countries capital gains tax is a lucrative ground for raising money for purposes of development. In addition, In a (developing) countries like Nigeria there exist large opportunities for the realization of capital gains because of the tendency of rising prices inevitably accompanying a process of accelerated economic development, besides, the process of economic development itself tends to generate capital gains because of the rise in real income, company profits and the value of shares. But as the proportion of wealth held in the form of equity shares of the capital gain arises to the owners of property such as land and real estate. Thus, the taxation of capital gains tax constitute an important fiscal mechanism to plough back a proportion of the increase benefits accruing to the holders of property as a result of a process of development into the developmental funds of public sectors.

There are many types of taxes that are often levied on individual and corporate entities. Capital gain tax is on income derived from the sale of a capital asset. This paper will examine the concept of tax, reasons for taxation, features of a good tax system, nature, arguments against Capital Gain Tax and recommendations for effectiveness of this form of taxation.

1.2. STATEMENT OF PROBLEMS

Whatever arguments are in favour of or againstcapital gains tax, capital gain tax like other type of taxation have been criticized as having a kind of a lock-in-effect on business in the sense that it inhibits the sale of capital assets which have appreciated in value (Brown, 1955). It is also argued that capital gain tax reduces the flow of investment especially in developing countries where there is high need for greater investment mobility (Amatong, 1975). The negative effect on sale of asset will be minimal where capital gains are payable on the value of appreciation, where the tax is not only through sale of asset.

Secondly, There are some challenges in connection with CGT Act one of them being that should the same transaction bear tax consequences in another jurisdiction double taxation is likely to occur. It appears the tax consequences and tax point obligation is the burden of the resident entity. It is not clear how the resident entity will arrange for the funds to meet its tax obligation. The amendment has not made any clarifications when it comes to cases where the shares are listed and traded on a stock exchange on a regular basis, thereby potentially triggering a change in control as result of regular trading. Also, unlike other jurisdictions, no limitation has been provided for under the amendment with respect to companies which are land rich or own natural resources which were/are the main target of taxation.

Thirdly, despite the fact that the existing tax provisions provided for taxation of direct share transfers in Nigeria, there was no specific mechanism in place to enforce collection of the tax on the gain. This has now changed following the amendments made to sum section of the CGT Act whereby a single installment tax payment will be required with respect to gains arising from direct share transfers or interest derived from Nigerian entities. The installment rate applicable is ten percent for resident shareholders and twenty percent for nonresident shareholders. A point to note is that the said installment will be available to the taxpayer as a tax credit for the given year of income at the time of the final tax payment.

Fourthly, Capital gains taxes also contribute to tax avoidance. The level of tax avoidance is the extent to which actual tax revenue collected by a government differed from what would have been collected if every taxfiler paid exactly what is required by law. Tax avoidance has important implications for tax efficiency since resources expended on avoidance could be put to more pro­ductive uses.

Furthermore, there are many problems with the management and administration of capital gain tax as presently implemented in Nigeria. Oserogho (2004) posited that the principal problem is that of lack of data or record keeping in order for the tax authorities to be aware of when the capital gain has been made and liable to payment of this tax. This is especially as Nigeria continues to maintain a cash base economy as opposed to an electronic one.

If the potential returns are taxed heavily, the entrepreneur’s motivation is reduced. Hence, high capital gains tax rates may divert innovative, would-be entrepreneurs toward different career paths. The economy is harmed by the reduction in entrepreneurial activity, not only because business and job creation declines, but also because possible improvements to living standards are left undiscovered.

Finally, Nigeria is richly blessed with oil and gas among other mineral resources, but the over dependence on oil revenue for the economic development of the country has left much to be deserved. The inability of the tax system to generate revenue affects the services offered by the government. The Nigerian tax system has not been able to perform the expected role of revenue generation and regulation of income distribution. This stemmed from the structural and administrative defects of the tax system. The machinery and procedures for implementing tax systems are inadequate, resulting into tax evasion and avoidance by most individuals and institutions and the resultant effect of this, is low revenue yield for the development of the country or state.

1.3. OBJECTIVES OF THE STUDY

The capital gains tax is different from almost all other forms of federal taxation in that it is a voluntary tax. Since thetax is paid only when an asset is sold, taxpayers can legally avoid payment by holding on to their assets—aphenomenon known as the "lock-in effect." Today there is an estimated $7.5 trillion in unrealized capital gains thathave not been taxed. Over the past 40 years the appreciation of capital assets has outpaced realized capital gains 40-fold. That suggests that a capital gains tax reduction has the potential of "unlocking" hundreds of billions of dollars ofstored up wealth.

OBJECTIVES OF STUDY

The main objective of this paper is to assess and evaluate the administration of capital gain tax in Nigeria Tax system.

Other specific objectives include:

Ascertain the relationship of Capital Gain Tax and economic development of Nigeria for the enhancement of the standard of living of the citizens.

Examine Capital Gain administration with a view to putting in place a good policy of administering the tax system.

Ascertain whether sharp practices in administration of Capital Gain Tax between the staff of FBIR and assess company contributed to tax evasion.

Determine how Capital Gain Tax contributes to revenue generation in Nigeria.

Determine the extentto which Capital Gain Tax has contributed to the steady growth in GrossDomestic Product in Nigeria.

Identify problems that militate against the use of Capital Gain Tax as revenue generation in Nigeria Tax administration.

Making recommendations that will assist to increase the revenue generation through Capital Gain Tax.

1.4. RESEARCH QUESTION

Based on this, the following three research questions are formulated to guide

The study:

Is there any relationship between Capital Gain Tax and economic development in Nigeria?

Examine Capital Gain administration with a view to putting in place a good policy of administering the tax system?

Are thereany sharp practices in administration of Capital Gain Tax between the staff of FBIR and assess company contributed to tax evasion?

How Capital Gain Tax has contributes to revenue generation in Nigeria?

To what extent has Capital Gain Tax contributed to the steady growth in Gross Domestic Product in Nigeria?

Problems that militate against the use of Capital Gain Tax as revenue generation in Nigeria Tax administration?

1.6. STATEMENT OF HYPOTHESIS

Two hypotheses stated in null forms were formulated to carry out this work.

Hypothesis One

There is no significant relationship between Capital Gain tax and economic development of Nigeria.

Hypothesis Two

H01: Capital Gain Tax has not contributed significantly on revenue generation in Nigeria.

1.5. SIGNIFICANCE OF STUDY

The most recent study (Speer & Palacios and Lugo & Vaillancourt, 2014) finds that individuals who reported capital gains income incurred, on average, higher compliance costs than those who did not report any such income. Specifically, the direct compliance costs for those individuals report­ing capital gains income was, on average, 13.8 percent higher. This provides some sense of the compliance costs associated with capital gains taxation.

This research study, would contribute to the existing literature by focusing on Capital Gain tax reforms and administration of tax policy/laws in Nigeria with a view to identifying the critical problems that are confronting the Nigerian tax system so that appropriate measures could be taken to tackle them.

This study shall set out, a comprehensive analysis of Capital Gain Tax and it laws in Nigeria and it will also consider the ‘dark’ side of professional practice by examining the involvement of FIRS Tax officials in facilitating tax avoidance, tax evasion and corruption in Nigeria.

The result of this study will throw more light on the problems of Capital Gain Tax Administration in Ogun state Nigeria. The special emphasis on the federal Board of Inland revenue (FBIR) will highlight peculiar problems and difficulties in administering the Capital Gain Tax.

Finally this study will be of great significance to schools and students, it will serve as a reference point for future researchers who will want to research more on the topic.

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TRADITIONAL INSTITUTIONS IN OMU-ARAN DURING THE COLONIAL ERA


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CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Omu-Aran is the most populous and largest town in igbominaland of kwara state. The town was originally called “Omu” but was later changed to Omu-Aran about 1400 when the people moved finally to the present site.

The name “Omu” was derived from Omutoto, the woman whose children established the first settlement at Odo-Omu between the 13th and 14th century.

Indeed, it was largely in recognition of Omu-Aran’s historic importance in igbominaland that the town was chosen as the headquarters of the former igbomina-Ekiti local government authority in 1968.

It also became the headquarters of Irepodun local government area when the former Igbomina-Ekiti local government was split into two on the 24th of august 1976.

The people speak Igbomina dialect or Yoruba language and their customs are in many ways similar to those of the other Yorubas.

Their occupation was largely influenced by the vegetation of the area. Thus, they are predominantly farmers, producing such crops as yam, maize, guinea corn, cassava, beans and vegetable for consumption. While kola nut, palm products, cocoa and coffee in very small quantities are economic crops.

Omu-Aran is famous in handicraft such as basket making, blacksmithing, carving, dyeing, cloth weaving, wood carving and pottery.

1.2 AIMS AND OBJECTIVES:

The aim of this research work is to discuss traditional institutions in Omu-Aran during the colonial era.

Objectively, it seeks to examine the impact of colonial rule on the traditional institutions in Omu-Aran.

The work intends to look at how traditional institutions were able to survive and co-exist with the incursion of the Europeans and the advent of colonialism.

It explores the activities of traditional institutions prior to colonial rule and how British administration interfered with these institutions. By this, making available to the public and the academic world, an analytical research work on traditional institutions and their survival in the face of foreign domination.

1.3 SCOPE OF STUDY:

The research work covers three eras i.e. pre-colonial, colonial and post independence. It seeks to make one understand the distinct roles played by the various indigenous local administration in the area laying emphasis on their evolution and hierarchical organization and sphere of influence. It is to be noted that Omu-Aran as a whole has generated interest from historians, scholars and others but there have been some wrong notions and interpretations made as regard the local administrative set-up of the area and this project seeks to correct such distortions.

1.4 SIGNIFICANCE OF STUDY:

Omu-Aran was chosen because of her historic importance in Igbominaland, much have been written about Omu-Aran town and Igbominaland in general but researchers have paid little or no attention to the place of traditional institutions and their role in bringing about social and political development to their area.

Also there have been wrong notions expressed about leadership among the people of Igbominaland and so I have decided to bell the cat and in doing this, I will take pains to properly conceptualize and delineate my work.

The essence is to know the traditional institutions that existed, how they operated, and their relationship with the people and also to try and know the problems the encountered in dealing with external overlords.

That is to say that what happened when the traditional way of existence faced challenges from foreign incursion.

1.5 RESEARCH PROBLEMS AND METHODOLOGY:

A research work of this nature naturally depends on both oral and written sources so the two approaches were employed to enhance a credible and worthwhile endeavor in the form of this work.

In the course of this research, people of diverse origin and background were interviewed, those whose antecedents are from the area under review. Those who are not from the area but work there. Those who are witnesses or offspring of witnesses, who could narrate with pleasing exactitude, the time of arrival of colonial masters and the effect that their coming had on these institutions.

On written documents, there are no sufficient materials to lay hands on and so materials used include library materials either private or public library, articles, thesis as well as existing projects.

Meanwhile, the major problem faced in the course of this research is non-availability of materials as not much had been written on the area.

Also, there was reluctance of the informants in giving out information and so they had to be cajoled and in most cases interview had to be rescheduled.

1.6 LITERATURE REVIEW

Various written works were consulted in the course of this research although there are not specific written works on traditional institutions in Omu-Aran during the colonial era but there were some books either written on the whole of Omu-Aran, Yoruba land or Igbominaland.

On the early history and traditions of origin of Omu-Aran, AfolabiFatai’s book “Igbominaland land in the context of Yoruba history” was consulted. Also consulted on the early history of Omu-Aran was “the chronicle of Omu-Aran, Oduduwa age to 2002”.

On the traditions of origin of Omu-Aran, “the history of the Yoruba” by rev. Samuel Johnson; “Gazetteer of Ilorin province” by K.V. Elphinstone, Robert Smith’s, “kingdoms of the Yoruba” were consulted.

On the activities of traditional institutions in Omu-Aran during the pre-colonial era, “Omu-Aran-Ilorin relations” by Afolayan J.A, “Yoruba warfare in the 19th century” by Ajayi and Smith were consulted.

On the impact of colonial rule; N.A.K 324/1917, Northern and southern provincial boundary, “power and diplomacy in Northern Nigeria 1804-1906” by Adeleye, R.A. were consulted.

However, as useful and important as the above works are, they still leave gaps that are readily filled by learned journals, national dailies and news articles like Atoka Igbominae.t.c.

AfolabiFatai’s work “Igbominaland in the context of Yoruba history” proved useful on the early history and traditions of origin of Omu-Aran. The work not only shed light on the circumstances surrounding the founding of Omu-Aran but also talked about the settlement they initially stayed before moving to their present site.

“The chronicle of Omu-Aran, Oduduwa age to 2002” also proved useful on the origin and development of Omu-Aran before and after colonial rule.

“Yoruba warfare in the 19th century” by Ajayi and Smith as well as Afolayan, J.A’s “Omu-Aran-Ilorin relations” were useful to this work as they proved invaluable on the political terrain in Yoruba land and Ilorin before the advent of the colonial masters.

1.7 CHAPTERIZATION

The work is categorized into four chapters;

Chapter one is mainly introductory. It contains subtitles such as aims and objectives, scope of study, significance of study etc.

Chapter two goes deeper into the history of the area; it includes the geographical description of Omu-Aran, traditions of origin, political set- up and administrative organization.

Chapter three deals with the evolution and various functions of the traditional institutions. This will be analyzed under pre-colonial, colonial and post-independence eras laying emphasis on their inter and intra relations within the context of the study.

Chapter four discusses the impact of colonial rule on traditional institutions and the chapter concludes with a brief review of the points raised in the work.

1.8 NOTES AND REFERENCES

1. N.A.K-ILORPROF file 223oA: Letters between Government Officials 1908-1918, p.3

2. O.D.A Memorandum on the grading of Oba Olomu 1978, p.4

3. Afolabi, F. “Igbominaland in the context of Yoruba history” 2006, p.223

4. Afolayan, M.O. “evolution of Omu-Aran from the earliest time to 1930” B.A. history dissertation, University of Ilorin, 1980, p.2

5. Interview with chief Asanlu, Omu-Aran, December 19, 2010



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THE IMPACT OF CHRISTIAN RELIGIOUS STUDIES ON THE BEHAVIOR OF SECONDARY SCHOOL STUDENTS

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

The high level of moral decadence and insurgencies in Nigerian nation is an indication that there is poor religious teaching in secondary school system. Christian religious studies (CRS) as one of the religious subjects taught in secondary school in Nigerian takes a central position in ensuring moral and spiritual wellbeing of individuals in the society. The key roles of CRS in equipping the individuals and ensuring high level of morality is made clear in the objectives of CRS at the senior secondary level which include; to provide more opportunities for Nigerian youths to learn more about god and thereby develop their faith in god; to enable the youths to accept Christ as their savior; to help the youths develop Christian attitude and moral values (such as humility, respect, love, and justice, etc.); to instill in the youth the spirit of tolerance , reconciliation ,peaceful co-existence and non-violence as well as to develop and foster in the youth the spirit of respect for all people and human life (Universal Basic Education Curriculum (UBA), (2013).

Christian Religious Studies (CRS) is one of the major subjects missionaries bequeathed to Nigerian education system on the establishment of schools by the 19th century missionaries. The aim was to train people who will be of immense help to the colonial trinity goals (God/Christianity, government/colonization and Gold/commerce). In other to achieve the above, the major curriculum contents of their educational system were Bible Studies, Arithmetic and English language for communication. To implement fully the contents, adequate attention was given to the understanding of the place of God in man’s life (Nsongo, 2001). During the missionary era, bible studies otherwise known as CRS were the core subject. Subsequently, after independence, government took over schools; there was a clarion call for review of curriculum in 1983. The call was as a result of criticisms leveled against colonial education, which some scholars viewed as being too arts oriented and as such lacked relevance to Nigeria upliftment, political emancipation and infrastructural development (Ocho, 2005). Ocho further explained that the situation led to the modification of the curriculum with greater emphasis on sciences and technological subjects.

The major aims of inclusion of CRS in the education curriculum is to raise generation of people who can think for themselves, respect the views and feelings of others, appreciate dignity of labour and those moral values specified in the broad national aims as good citizens. While at the secondary school level the subject is meant to prepare learners for useful living through inculcation of Christian attitudes and values, and to prepare learners for higher education (Akubue, 1992:16-17).

Without effective religious studies Nigerian nation will likely to end up in conflict, religious crisis, insurgencies and social unrest among other things. This is because religious control human actions in both social, political, economical and otherwise (Eluu, 2009). The teaching of CRS dates back to the 19th century with the pioneers of Nigerian education (Banjo, 2003). During the missionary administration because of the moral values it teaches the people. Following the government takeover of schools, Nigerian, secondary school curriculum was reviewed and more emphasis was placed on the studies of science and technological subjects. This shift affected the study and interest of students in CRS in school system leading to poor enrollment in CRS. Gbenda (2004) stresses that student’s enrollment and interest in CRS could as well be as of result of inadequate provision of teaching aids, fewer professional teachers and lack of incentives among other things. Njoku (2009) equally adduced that poor enrollment of student in CRS could be attributed to teacher’s instructional delivery system and teachers’ personality. CRS is taught in all the senior secondary schools in Nigerian as an elective subject. The elective nature of the subject in senior secondary schools in Nigeria equally reduced the number of students that register for the subject in West African examination council (WAEC) and national examination council (NECO) as well as other internal examination. CRS is a subject that bases its teaching on the life and teaching of Jesus Christ (Ugwu, 2001) as a teaching subject, it is not only geared towards converting people to Christianity, but is necessary for value formation, orientation and reorientation of value system as well as spiritual upliftment of the student. Ali and Akubue in Njoku (2009) observed that, CRS is a subject which aims at developing and fostering in the lives of the students Christian attitudes and values such as respect to life, obedience to constitutional authority, responsible self, selfless series to God and humanity. To them, CRS is seen as an academic discipline that is designed to provide the leaner with moral and spiritual transformation. This shows that CRS is the study of Christian lifestyles such as love, caring, patience, faith, forgiveness and hope in God as well as good relationship among men. Obanya in Njoku (2004) maintained that CRS like every other subjects has five features. These features are; a set of rational theoretical formulation, inherent capacity for growth, applicable solution to human problems, organized Body of the knowledge and a degree of uniformity with other area of academic activities. In the context of this study, CRS is defined as a social science subject that teaches students good moral behaviour, fearing of God, knowledge and skills that will make them to contribute their quota in socio-economic and moral development in senior secondary schools. The inclusion of sound religions and moral values in the life of students invariably could help in the development of spiritual and moral sound being of the students.

1.2 Statement of the Problem

Christian Religious Studies (CRS) is designed to achieve many goals in the lives of students ranging from teaching the students about God to the teaching of moral values which is geared towards shaping human behavior. These values are embedded in the stories and events recorded in the bible (drawn from the life of Christian and other mystical beings). Notwithstanding the lofty aims of CRS, studies by Ali and Akubue (1988) showed that learners’ moral attitude have not improved greatly especially at this era. Meanwhile, an appraisal of CRS curriculum contents revealed that the subject has the potentials required to build one’s moral character.

Right from inception of education in Nigeria, CRS has been one of the core subjects in secondary schools. However, there have been questions on the efficacy of CRS programme in instilling discipline and moulding character of the learner. Judging from the state of the moral behaviour of students, it seems that the subject is not achieving its major goals, which is developing in learners the ability to attain intellectual and moral perfection, discipline them both mentally and morally so as to face their daily and future challenges as good citizens (Akubue, 1992).

The above observations seem to suggest that CRS is taught in schools without much impact on the lives of the people, that is, without achieving its sets objectives in students’ lives. The study therefore sought to examine the impact of Christian religious studies (CRS) on the behavior of secondary school students in Nigeria.

1.3 Objectives of the Study

The study sought to know the impact of Christian religious studies (CRS) on the behavior of secondary school students. Specifically, the study sought to;

examine the relationship between Christian Religious Studies and behavior of secondary school students.
examine the challenges to effective teaching of CRS in secondary schools.

iii. suggest ways of curbing the challenges affecting the teaching of CRS in secondary school students.

1.4 Research Questions

What is the relationship between Christian Religious Studies and behavior of secondary school students?
What are the challenges to effective teaching of CRS in secondary schools?

iii. What are the ways of curbing the challenges affecting the teaching of CRS in secondary school students?

1.5 Research Hypotheses

Ho: There is no relationship between Christian Religious Studies and behavior of secondary school students.

1.6 Significance of the Study

This study would be beneficial to students, teachers, religious instructors, curriculum planners, educational administrators, researchers and textbook authors.

To students, the study would help to improve their understanding of CRS and thus adjust properly in the society through active participation in the classroom leaning which stimulate their interest and change the negative perceptions they already have in learning CRS and this invariably help them to develop the affective domain of knowledge in secondary schools.

Religious instructors and bodies are not left out as they would understand the best way to educate children in the principles and practice of Christianity which invariably will promote peace and harmony as well as co-existence in the Nigerian society.

This study will also be of immense benefit to other researchers who intend to know more on this study and can also be used by non-researchers to build more on their research work. This study contributes to knowledge and could serve as a guide for other study.

1.7 Scope/Limitations of the Study

This study is on impact of Christian religious studies on the behavior of secondary school students.

Limitations of study

Financial constraint: Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).

Time constraint: The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.

1.8 Definition of Terms

Christian: Relating to or professing Christianity or its teachings.

Religious Studies: Religious studies, alternately known as the study of religion, is an academic field devoted to research into religious beliefs, behaviors, and institutions. It describes, compares, interprets, and explains religion, emphasizing systematic, historically based, and cross-cultural perspectives.

Behaviour: The way in which one acts or conducts oneself, especially towards others.

Secondary School: A secondary school is both an organization that provides secondary education and the building where this takes place.

Student: A student is primarily a person enrolled in a school or other educational institution who attends classes in a course to attain the appropriate level of mastery of a subject under the guidance of an instructor and who devotes time outside class to do whatever activities the instructor assigns that are necessary either for class preparation or to submit evidence of progress towards that mastery.


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AGRICULTURE, TRADE REFORM AND POVERTY REDUCTION: IMPLICATIONS FOR SUB-SAHARAN AFRICA

CHAPTER ONE

INTRODUCTION

1.1 Background of the Study

The WTO Ministerial Declaration at Doha in November 2001 places considerable emphasis on development (WTO, 2001b), although the outcome is not guaranteed. Many developing countries – particularly in Africa – are skeptical that they will receive sufficient gains from that MTN to warrant the inevitable costs of negotiations and adjustments. These countries and some donors also still need to be convinced that such trade reform will alleviate rather than add to poverty and food insecurity in developing countries. Some are concerned about the loss of trade preferences as developed countries’ MFN tariffs are reduced. Net food-importing countries are especially worried that they will be made worse off by having to pay a higher food import bill following agricultural trade reform.

Trade policy does not deal with income distribution issues, because in virtually all countries they can be handled more efficiently by more direct policy measures (Corden, 1997, Ch. 4). Nonetheless, it is important to be aware of the distributional consequences of trade (and other) policy changes and to check that measures are in place or, are introduced to deal effectively with any vulnerable groups who may be made worse off by those trade reforms abroad and/or at home.

It is estimated that between 350 million and 1.2 billion people live on less than US$1 a day, most of whom are in rural Sub-Saharan Africa and South Asia (Sala-i-Martin, 2002; Collier and Dollar, 2002; etc). This study looks at the likely effects of the current WTO negotiations on poverty alleviation with a particular focus on agriculture and rural households in developing countries, especially those in Africa. The reason for the rural focus is not just because that is where most of the world’s poor live and work, but also because agricultural markets are the most distorted in the world and hence any across-the-board cut in trade distortions would bring down the relative price of agricultural products in international markets.

There is a large body of empirical evidence showing that trade liberalization - easing tariffs and other import restrictions as well as reducing or eliminating domestic supports and export subsidies - tends to boost economic growth, at least in the longer term, and this has helped to reduce the number of persons living in absolute poverty (Dollar and Kraay, 2000). In the longer term, and in the absence of externalities, own-country liberalization tends to increase aggregate welfare through improvements in resource allocation and employment generation but, there will always be some who lose in the absence of compensation. However, in the short-term structural adjustment costs and the immediate impact on the poor may be negative, particularly in developing countries that do not have the resources, institutions or infrastructure to facilitate the changes nor the social safety nets to cushion the negative effects. Changes in trade policies in other countries also have an impact through altering a country’s terms of trade, which again can generate winners and losers within each developing country. If the combination of the effects of reforms at home and overseas is pro poor, it will reinforce any positive growth effects of trade reform on the poor; but for countries where those changes are not likely to be pro-poor, governments may need to amend domestic policies or boost public investments to prevents a deterioration in the welfare of vulnerable groups. To achieve this, the developing countries are likely to need some leeway and external support through the provision of resources to build “soft” and “hard” infrastructure.

The many African countries that are heavily dependent on exports of farm commodities can anticipate being better off following WTO-induced trade reform, particularly by the developed countries, which use an array of instruments to support their farm sectors and limit access and entry to their markets. The elimination of these trade distortions would level the playing field, and make it more feasible for African countries to contemplate undertaking their own reforms that would otherwise expose their fragile sectors to unfair competition. Those African countries whose food imports represent a large part of their foreign payments could face a higher food import bill but, if their farmers can respond to expected increases in international prices - however modest - as export subsidies are reduced by the developed countries, this could have positive effects on food security and poverty alleviation. Therefore, all African countries need to play an active role in the WTO negotiations to ensure that their particular interests are taken into account.

The quantitative analysis in this study shows that about half of the potential global economic welfare gains from trade reform would come from changes in the policies of the OECD countries in the agriculture and processed food sectors. The present analysis also confirms earlier analyses (e.g., Krueger, Schiff and Valdes, 1988) showing that some developing countries have an anti-agriculture, anti-poor bias in their own policies and so are not making the best use of their own resources – although the extent of that has been reducing over the past decade or two (see Jensen, Robinson and Tarp, 2002).

These welfare results are driven by improvements in the terms of trade (e.g. export prices rising more than import prices) and the efficiency effects of improvements in the allocation of resources between different activities. This study looks at changes in prices, outputs and trade balances by sector, which can expose potential adjustment problems and policy dilemmas for developing countries. However, it should be kept in mind from the outset that the results are based on a comparative static analysis, comparing a preand post-liberalization situation, without taking account of transition periods or adjustment costs such as the movement of resources from highly-protected industrial sectors in developing countries.1 The results are also limited in that SPS and TBT barriers and other market entry restraints that developing countries face in their major markets are not modelled, and perfect competition is assumed. The effects of trade reform on poverty are addressed at three levels: first focusing on developing countries as a group; then on different types of developing countries and finally, on different types of households within developing countries.

1.2 Statement of the Problem

There are important gains in agricultural exports as a result of the simulated elimination of all forms of trade intervention, and a decline in net food imports. However, there are important variations as between industries. There are gains in most agricultural sectors (except “other crops” in Sub-Saharan Africa when that region and South Asia are excluded from the reforms). On the positive side, there are also marked net trade gains in the energy and minerals sectors. However, “other” manufactures faces an important trade loss, especially if developing countries join in the elimination of trade measures (mainly industrial tariffs in this case), The counter to this would be corresponding net gains for developed countries but, other developing regions especially in South-East Asia may also be winners.

Does this mean that Sub-Saharan Africa should be indifferent to or should refuse to participate in the WTO negotiations? The answer is certainly not. On the contrary, they would be worse off if their governments did not participate actively in the WTO process. First, these countries would forego the opportunity to safeguard their own trade interests and to seek greater access for their exports to other markets. Second, they would forego the opportunity to obtain economic efficiency gains from reducing the policy biases against their own rural sectors, while still suffering the terms of trade loss from others’ reforms (or lack thereof), since any one of those countries is too small for its own policy choice to alter the terms of trade significantly. The fact that other countries are also undertaking reforms sometimes makes it politically easier for governments to introduce similar changes at home. Thirdly developing countries that face important structural adjustments, tariff revenue and preference losses would be able to argue a case for support for institution-building and the implementation of programmes to facilitate adjustment and to provide social safety nets and compensation from the developed countries that win from the negotiations. It may also be helpful in persuading bilateral donors and the IFIs, under the coherence mandate, to help Sub-Saharan African countries overcome serious supply constraints in the real economy, for example in infrastructure projects and overcoming technical barriers to trade.

1.3 Objectives of the Study

The study sought to know the agricultural trade reform, and poverty reduction: implications for Sub-Saharan Africa. Specifically, the study sought to;

1. examine the relationship between trade reform and poverty reduction.

2. determine the implications of agricultural trade reform in the Sub-Saharan in Africa.

3. discuss the effect of trade reform and poverty reduction in other developing countries.

1.4 Research Questions

1. What is the relationship between trade reform and poverty reduction?

2. What are the Implications of agricultural trade reform in the Sub-Saharan in Africa?

3. What is the effect of trade reform and poverty reduction in other developing countries?

1.5 Research Hypotheses
Ho1: There is no relationship between trade reform and poverty reduction.
Ho2: There are no Implications of agricultural trade reform in the Sub-Saharan in Africa.

1.6 Significance of the Study

This study will be of immense benefit to other researchers who intend to know more on this study and can also be used by non-researchers to build more on their research work. This study contributes to knowledge and could serve as a guide for other study.

1.7 Scope/Limitations of the Study

This study is on agriculture, trade reform and poverty reduction: Implication for Sub-Saharan in Africa.

Limitations of Study

Financial Constraint: Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).

Time constraint: The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.

1.8 Definition of Terms

Agriculture: Agriculture is the cultivation of land and breeding of animals and plants to provide food, fiber, medicinal plants and other products to sustain and enhance life.

Trade reform: is to help raise economic growth and employment generation by improving resource allocation and economy wide efficiency.

Poverty reduction: Poverty reduction, or poverty alleviation, is a set of measures, both economic and humanitarian, that are intended to permanently lift people out of poverty.

Implications: the conclusion that can be drawn from something although it is not explicitly stated.

Sub-Saharan Africa: is, geographically, the area of the continent of Africa that lies south of the Saharan.

REFERENCES
Agricultural and Resource Economics 44(3): 475-94, September.
Anderson, K. (2000), ‘Agriculture’s Multifunctionality and the WTO’, Australian Journal of
Anderson, K. (2002), ‘Economy-wide Dimensions of Trade Policy Reform’, Ch. 2 in Development, Trade and the WTO: A Handbook, edited by B. Hoekman, A. Matoo and P. English, Washington, D.C.: The World Bank.
Anderson, K., B. Dimaranan, J. Francois, T. Hertel, B. Hoekman and W. Martin (2001), ‘The Cost of Rich (and Poor) Country Protection to Developing Countries’, Journal of African Economies 10(3): 227-57.
Dollar, D. and A. Kraay (2002), ‘Growth is Good for the Poor’, Journal of Economic Growth 7(3): 195-225, September.
Sala-i-Martin, X. (2002), ‘The World Distribution of Income (Estimated from Individual Country Distributions)’, NBER Working Paper 8933, Cambridge MA, May
WTO (2001a), Market Access: Unfinished Business: Post-Uruguay Round Inventory and Issues, Special Study No. 6, Geneva: World Trade Organization.

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In the academic world, it is a routine convention that having studied for a period, students are required to do researches, make findings, choose a topic and develop good and quality content for such topic.
In most cases, final year project topics are selected from a pool of available ones by students and approved by their tutors before they commence work on it. Eventually students are expected to make a presentation to a group of enlightened scholars in respect to their final year project and also try to relate it to the real world scenario that await them having acquired qualification in their field of study, an art generally known as final year project defence.
Under listed are a few tips to help you make an outstanding presentation while defending your final year project:
• Do thorough research on your topic: It is important to make detailed and extensive research on your topic so as to familiarize with concepts involved.
• Arrange your findings: After conducting proper research, it is important to arrange your resultant findings in order of necessity.
• Write: Writing down your project and presentation steps in order will help you familiarize with the content and also help you to know what to say and when to say it.
• Note key points: writing down key points on handy notes or cards can be helpful. When presenting, just look at a point and give details. Remember you must not appear to be reading to your audience rather you should appear to know what you’re presenting.

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EFFECTIVENESS OF ACCOUNTING INFORMATION ON MANAGEMENT DECISION MAKING IN MANUFACTURING COMPANIES IN NIGERIA

CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
For any organization of any type, be it small, medium or large, service or manufacturing, to survive in this dynamic and global world, there is need for proper management of information. Therefore, information is the backbone of any business. However, there is need for information to be well process, and the means to process information is through an integrated set of component called an information system. Thus, information system is the combination of different component to perform a specific function and basically it can be sourced from both internal and external. According to Elvisa and Erkan (2015), the most important part of management information system is the one that is concern with data processing, known as Accounting Information System (AIS). AIS involved identifying, recording, analyzing, summarizing and communication of economic information to its end user for decision making.
Decision making has been described as a purposeful choosing, from a number of alternative causes of action. AIS provide managers with the necessary information they need. Management decision is one of the most important facets that pervade all organization and constitute its progress and/or failure in actualization of pre-determined goals and objectives (Clinton, Matuszewski & Tidrick, 2011). Interestingly, both financial and non-financial information are used by Management accounting and is generally intended for the use of internal users who use the information to make decisions that help achieve the goals and objectives of the organization. Financial information used by management accountants include sale growth, profits, return on capital employed and market shares, non-financial information include customer satisfaction level, production quality, performance of competing products and customer loyalty. Melissa Bushman (2007) opined that management accountants use both financial and non-financial information to aid business decision-making, in other words, business decision making is predicated on AIS. AIS is a set-up, or system that is primarily concerned with financial data gathering from internal and external sources, analyzing, processing, interpreting and communicating the result (information) for use within the organization so that management can make more effective and efficient plan, decisions and control operations.
Planning, decision making and control operations according to Priyia and Longnathan (2016), are challenges constantly confronted by management in running the affairs of the organization, especially knowing that resources are relatively scarce and limited. So, the need for good AIS must be made available for proper and accurate decision making. In making a sound decision, the management needs valuable and accurate information from its accountant. The accountant is at the services of the management by providing them with the necessary information they need for decision making. In recent times, it was observed that cases of mismanagement, fraud and irregularities prevail in the organization.
Green Wood and Hinings (2012) opined that there is evidence that reveal the influence of accounting information in decision making process. It emphasizes the importance of a holistic context and which, led to the integration of other institutional influence and multiple logics. The essence of using AIS is to enable managers make wise decision. AIS is also used to setup system of internal control to increase efficiency and prevent fraud in companies. AIS aid in profit making, budgeting and cost control. In a company, it is the duty of the management accountant to see that his company keeps good records and prepare proper financial regulations. Management accountants also need to keep up with the latest development in the use of computers and in computer system design. Accountants provide many special reports for management’s decision making. This function requires the gathering of both historical and projected data.
1.2 Statement of the Problem
Information is indispensable for decision making in any business organization. The problem however lies in the quality and validity of the information, that is, if it is timely, adequate, and clear. The major purpose of the use of accounting information is to minimize risk, failure and uncertainties and also stay ahead of competitors. Notwithstanding the immense benefit of use of accounting information, it is generally acknowledged that most unqualified accountants generate inaccurate information and so result in failure of organizations to achieve desired goal. These problems largely contribute to the failure of the use of accounting information in business with the result that inaccurate decisions are made to the detriment of the organization. It is only through accounting information that managers and external users get a picture of the organization as a total entity. Managers who fail to realize this do not appreciate an accountant’s analysis in respect of financial accounting information generated. This may lead to poor decision being taken and it may affect the profitability & performance of the organization. Some organization due to low financial layout causes the effect & importance on decision to be taken not to be noticed or gained by the organization.
Generally, the use of accounting information will become critical factor in changing competitive environment, for the manufacturer to effectively and efficiently make decision. The major problem discovered for management is the identification of fundamental concept of accounting information to be implemented by each company which can affect the company positively or negatively and therefore, there is a problem. If a particular concept of accounting information used by the company affect the management decision negatively, and this helps us to recognize the reason for the negative effect, which can be as a result of adoption of wrong accounting information or uncertified accountant giving wrong information to the company which can lead to wrong decision to the progress of the company.
1.3 Objectives of the Study
The study sought to know the effectiveness of accounting information on management decision making in manufacturing companies in Nigeria. Specifically, the study sought to;
1. ascertain the relationship between effective use of accounting information and management decision making in manufacturing companies.
2. identify the frequency of using accounting information in decision making in manufacturing industries in Nigeria.
3. identify the problems in generating accounting information in manufacturing companies in Nigeria.
1.4 Research Questions
1. What is the relationship between effective use of accounting information and management decision making in manufacturing companies?
2. What is the frequency of using accounting information in decision making in manufacturing industries in Nigeria?
3. What are the problems in generating accounting information in manufacturing companies in Nigeria.
1.5 Research Hypotheses
Ho1: There is no relationship between effective use of accounting information and management decision making in manufacturing companies.
1.6 Significance of the Study
This study will be of immense benefit to other researchers who intend to know more on this study and can also be used by non-researchers to build more on their research work. This study contributes to knowledge and could serve as a guide for other study.
1.7 Scope/Limitations of the Study
This study is on effectiveness of accounting information on management decision making in manufacturing companies in Nigeria.
Limitations of study
1. Financial constraint: Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).
2. Time constraint: The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.
1.8 Definition of Terms
Accounting: This is the process of identifying, measuring and communicating economic information to permit informed judgments and decisions by users of the information.
Information: This is a complete set of processed data that has a meaning
Accounting information: These are processed data used by an organization to make financial decision.
Financial Accounting: It is the process of collecting, classifying, recording, summarizing and communicating data in respect of event, which can be expressed in terms of money for the purpose of making decisions.
Management: This means a group of decision makers or managers in an organization who see to the smooth running of the affairs of the business.

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